If at any time the Director determines that the Nationwide Mortgage Licensing System and Registry is failing to meet the requirements and purposes of this chapter for a comprehensive licensing, supervisory, and tracking system for loan originators, the Director shall establish and maintain such a system to carry out the purposes of this chapter and the effective registration and regulation of loan originators.
Pub. L. 110–289, div. A, title V, § 1509122 Stat. 2819Pub. L. 111–203, title X, § 1100(3)124 Stat. 2106(, , ; , , .)
Editorial Notes
Amendments
Pub. L. 111–2032010— substituted “Director” for “Secretary” in two places.
Statutory Notes and Related Subsidiaries
Effective Date of 2010 Amendment
Pub. L. 111–203section 1100H of Pub. L. 111–203section 552a of Title 5Amendment by effective on the designated transfer date, see , set out as a note under , Government Organization and Employees.