The Finance Commission is responsible for the oversight and coordination of
the
~~> 1. Department of Banking,
2. Office of the Consumer Credit Commissioner and
3. Department of Savings and Mortgage Lending.
- oversees reguluation of mtg professionals
A commissioner's designee is
...
prohibit false, misleading or deceptive practices by mortgage licensees.
However, the rules may not restrict competitive bidding or advertising by
residential mortgage loan originators by restricting:
the use of any medium for an advertisement;
the personal appearance or voice of a person in an advertisement;
the size or duration of an advertisement; or
a residential mortgage loan originator's advertisement under a trade name.
(Fin. Code §156.105; §157.011)
The Finance Commission is also charged with creating standard forms for
preapproval or prequalification of a loan applicant and adopting rules
requiring licensees to use the forms.
NMLS Responsibilities of the Commissioner
Confidentiality (Fin. Code §180.062).
Master01 | September, 2024/2025 | Latest update
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