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Code of Colorado Regulations eDocket
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 |
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Proposed rule
| Rule |
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| Additional Information |
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| 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
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| Is this rule adopted in response to recent legislation? |
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| Contact Name |
Yvette Gabardi |
| Contact Title |
Rulemaking Coordinator |
| Contact Telephone |
303.894.2341 |
| Contact email |
yvette.gabardi@dora.state.co.us |
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Adopted rule
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