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Code of Colorado Regulations eDocket
Official Publication of the State Administrative Rules (24-4-103(11) C.R.S.)

Details of Tracking Number  2007-00974


CCR details

Tracking Number 2007-00974
Type of Filing Emergency
Department 700 Department of Regulatory Agencies
Agency 725 Division of Real Estate
CCR Number 4 CCR 725-3
CCR Title RULES REGARDING MORTGAGE BROKERS

Proposed rule

Rule
Additional Information
Statutory Authority The Director of the Division of Real Estate adopts the following emergency rule according to her authority as found in ?? 12-61-910.3 and 24-4-103(6), C.R.S.
Purpose/Objective of Rule Section 12-61-904(1)(e), C.R.S. (2006), provides an exemption for Federal Housing Administration approved mortgagees or an appointed Federal Housing Administration correspondents, acting through officers, partners, members, exclusive agents, contractors, or employees of such entities when making or brokering any mortgage loan. HB07-1322, ? 12-61-901, et seq., repeals this exemption effective June 1, 2007. The repeal of the exemption creates an unrealistic timeline to register those affected mortgage brokers.
Comments The effective date of this emergency rule is August 31, 2007.
Submitted in response to issues raised by COLS/OLLS? No
Is this rule adopted in response to recent legislation?
Contact Name Yvette Gabardi
Contact Title Rulemaking Coordinator
Contact Telephone 303.894.2341
Contact email yvette.gabardi@dora.state.co.us

Adopted rule

Adopted Rules AdoptedRules02007-00974.RTF
Emergency Justification EmergencyJustificationPathAttach2007-00974.RTF
Adopted Date 08/27/2007
Emergency AGO requested date 08/27/2007
Attorney General Opinion 09/13/2007
Effective Date 08/31/2007
Inserted into CCR 09/14/2007