Hawaii Mortgage Broker Bonds
This bill will incorporate the federal definition that a mortgage loan originator will be required to be covered by a surety bond in an amount of the loans originated. The loan originator is also covered if he/she is an employee or an exclusive agent of a licensee; this will fulfill the bonding requirements as well. Under this new law it will require that the bond must provide coverage for all originators. This bill became a law because the Governor vetoed the bill and the legislature overrode the veto.
Latest posts by Victor J. Lance, President/Owner (see all)
- How to Get a Money Transmitter License in California - September 18, 2018
- How to Get a Money Transmitter License in New York - September 13, 2018
- Colorado Amends Bond Requirement for Private Occupational Schools and Private Degree-granting Schools - September 13, 2018