12 U.S.C. § 5108
Backup authority to establish a nationwide mortgage licensing and registry system
United States · Title 12 — BANKS AND BANKING · Status: effective
Cite this
- Citation
- 12 U.S.C. § 5108, Backup authority to establish a nationwide mortgage licensing and registry system, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/438902
- Permanent ID
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Full text
If at any time the Director determines that the Nationwide Mortgage Licensing System and Registry is failing to meet the requirements and purposes of this chapter for a comprehensive licensing, supervisory, and tracking system for loan originators, the Director shall establish and maintain such a system to carry out the purposes of this chapter and the effective registration and regulation of loan originators.
Legislative history
The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone.
- Housing and Economic Recovery Act of 2008
- Dodd-Frank Wall Street Reform and Consumer Protection Act