US Code

Public Law 119-73 (01/23/2026)

12 U.S.C. § 1735f–10

Change of mortgagee status

(a)

Notification

Upon the occurrence of any action described in subsection (b), an approved mortgagee shall immediately submit to the Secretary, in writing, notification of such occurrence.

(b)

Actions

The actions described in this subsection are as follows:
(1)
The debarment, suspension or a Limited Denial of Participation (LDP), or application of other sanctions, other exclusions, fines, or penalties applied to the mortgagee or to any officer, partner, director, principal, manager, supervisor, loan processor, loan underwriter, or loan originator of the mortgagee pursuant to applicable provisions of State or Federal law.
(2)
12 U.S.C. 5101 The revocation of a State-issued mortgage loan originator license issued pursuant to the S.A.F.E. Mortgage Licensing Act of 2008 ( et seq.) or any other similar declaration of ineligibility pursuant to State law.

June 27, 1934, ch. 847Pub. L. 111–22, div. A, title II, § 203(e)123 Stat. 1647(, title V, § 532, as added , , .)

Editorial Notes

References in Text

Pub. L. 110–289122 Stat. 2810section 5101 of this titleThe S.A.F.E. Mortgage Licensing Act of 2008, referred to in subsec. (b)(2), is title V of div. A of , , , also known as the Secure and Fair Enforcement for Mortgage Licensing Act of 2008, which is classified generally to chapter 51 (§ 5101 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under and Tables.

Prior Provisions

act June 27, 1934, ch. 847, title V, § 532Pub. L. 97–35, title III, § 339G95 Stat. 418section 203(e) of Pub. L. 111–22A prior section 1735f–10, , as added , , , which related to purchaser-broker arrangement payments for insurance purposes, was repealed by .