| Rule |
|
| Additional Information |
|
| Statutory Authority |
The statutory basis for the rules titled Rules of the Board of Mortgage Loan Originators is Part 7 of Title 12, Article 10, Colorado Revised Statutes, as amended. |
| Applicable Federal Provisions |
Passage of Economic Growth, Regulatory Relief, and Consumer Protection Act (S.2155) as codified in the SAFE Mortgage Licensing Act of 2008 reconcile with the requirements found in § 12-10-711(11), C.R.S. Effective November 24, 2019. |
| Purpose/Objective of Rule |
The specific purpose of this rule-making is to ensure the modifications made through the passage of the Economic Growth, Regulatory Relief, and Consumer Protection Act (S.2155) as codified in the SAFE Mortgage Licensing Act of 2008 reconcile with the requirements found in § 12-10-711(11), C.R.S. Effective November 24, 2019, federal law will grant temporary authority for individuals moving from a depository to a non-depository institution or a state-licensed mortgage loan originator moving interstate to perform activities requiring a licensing for up to 120 days prior to completion of the mandatory qualifying education or successfully passing the licensing examination. |
| Submitted in response to issues raised by COLS/OLLS? |
No
|
| Is this rule adopted in response to recent legislation? |
No
|
| Contact Name |
Martha Torres-Recinos |
| Contact Title |
Rulemaking Administrator |
| Contact Telephone |
303-894-2359 |
| Contact email |
martha.torres-recinos@state.co.us |