[CHAPTER 454F]

SECURE AND FAIR ENFORCEMENT FOR MORTGAGE LICENSING ACT

 

        Part I.  General Provisions

Section

   454F-1 Definitions

 454F-1.5 Registration with Nationwide Mortgage Licensing System

          required

 454F-1.6 Presumption of control

   454F-2 Exemptions

   454F-3 Requirement of licensure

   454F-4 License and registration; application; issuance

 454F-4.5 Automatic secondary review of license application

   454F-5 Issuance of license

   454F-6 Pre-licensing and re-licensing; education of mortgage

          loan originators

   454F-7 Testing of mortgage loan originators

   454F-8 Standards for license renewal

 454F-8.5 Reinstatement of expired licenses

   454F-9 Continuing education; mortgage loan originators

  454F-10 Authority to require license

454F-10.5 Authorized places of business; designation of

          managers; branch offices

454F-10.6 Voluntary cessation of operation; surrender of license

454F-10.7 Change in control of a licensee; fees

  454F-11 Nationwide Mortgage Licensing System; registry

          information; challenge process

  454F-12 Enforcement authorities; violations; penalties

  454F-13 Repealed

  454F-14 Confidentiality

  454F-15 Investigation and examination authority

  454F-16 Mortgage call reports

  454F-17 Prohibited practices

  454F-18 Powers of commissioner

  454F-19 Unique identifier shown

  454F-20 Report to Nationwide Mortgage Licensing System

  454F-21 Repealed

  454F-22 Mortgage loan originator and mortgage loan originator

          company fees

  454F-23 Payment of fees

 

        Part II.  Mortgage Loan Recovery Fund

  454F-41 Mortgage loan recovery fund; use of fund; fees

  454F-42 Statute of limitation; recovery from fund

  454F-43 Management of fund

  454F-44 Standing

  454F-45 Subrogation of rights

  454F-46 Waiver of rights

  454F-47 Disciplinary action against licensee

 

Note

 

  L Sp 2009, c 32, §8 as amended by L 2010, c 84, §29 provides:

  "Effective January 1, 2011:

(1) No new license shall be issued and no license renewal shall be effected under chapter 454, Hawaii Revised Statutes; and

(2) An individual who is subject to this Act [enacting chapter 454F and amending various sections of the Hawaii Revised Statutes] shall be required to be licensed under chapter 454F, Hawaii Revised Statutes, or by such later date approved by the United States Department of Housing and Urban Development, pursuant to the authority granted under Public Law 110-289, section 1508(e)."

  L 2010, c 84, §32 provides:

  " A person licensed under chapter 454F, Hawaii Revised Statutes, shall not be required to be licensed under chapter 454, Hawaii Revised Statutes, and shall not be subject to the provisions of that chapter upon the effective date of the person's licensure under chapter 454F, Hawaii Revised Statutes; provided that this section shall not affect rights and duties that matured, penalties that were incurred, and proceedings that were begun before the effective date of the person's licensure under chapter 454F, Hawaii Revised Statutes."

  Hiring and temporary exchange of employees.  L 2010, c 84, §§31, 33, and 34.

  Mortgage foreclosure task force, reports to legislature (expires June 30, 2012).  L 2010, c 162.

 

Revision Note

 

  Chapter was enacted as an addition to title 22 but is redesignated to title 25 pursuant to §23G-15(1).