Cal. Code Regs. tit. 10 § 1950.122

Current through Register 2024 Notice Reg. No. 23, June 7, 2024

Section 1950.122 - Electronic Filings

(a) DESIGNATION: The Commissioner designates the Nationwide Mortgage Licensing System (NMLS) owned and operated by the State Regulatory Registry LLC (SRR), a wholly-owned subsidiary of the Conference of State Bank Supervisors (in cooperation with the American Association of Residential Mortgage Regulators) to receive and store filings, obtain fingerprints, obtain credit reports, and collect related fees from applicants and state-licensed residential mortgage lenders, mortgage servicers, residential mortgage lender and servicers, and mortgage loan originators on behalf of the Commissioner.

(b) USE OF NMLS: All residential mortgage lender, mortgage servicer, residential mortgage lender and servicer, and mortgage loan originator applications, amendments, reports, notices, related filings, renewals, authorizations, and fees required to be filed with the Commissioner shall be filed electronically with and transmitted to NMLS, except as otherwise indicated in Subchapter 11.5 of these rules. The following conditions relate to such electronic filings:

(1) Electronic Signature: When a signature or signatures are required by the particular instructions of any filing, including any attestation to be made through NMLS, a duly authorized officer or proper delegate of the applicant or the applicant him or herself, as required, shall affix his or her electronic signature to the filing by typing his or her name in the appropriate field and submitting the filing to the Commissioner through NMLS. Submission of a filing in this manner shall constitute irrefutable evidence of legal signature by any individual making the filing.

(2) When filed: Solely for purposes of a filing made through NMLS, unless otherwise specified, a document is considered filed with the Commissioner when all fees are received and the filing is transmitted by NMLS to the Commissioner.

(3) An applicant shall provide through NMLS the necessary authorizations so that NMLS may obtain independent credit reports, fingerprinting and criminal background checks.

(4) Any documents required to be filed with the Commissioner that is not permitted to be filed with or cannot be transmitted through NMLS shall be filed in paper form directly with the Commissioner.

Cal. Code Regs. Tit. 10, § 1950.122

1. New article 2 (sections 1950.122-1950.122.3) and section filed 11-25-96; operative 12-25-96 (Register 96, No. 48).
2. Editorial correction of section heading and form (Register 99, No. 9).
3. Change without regulatory effect amending Exhibit M of form filed 2-24-99 pursuant to section 100, title 1, California Code of Regulations (Register 99, No. 9).
4. Change without regulatory effect amending facing page filed 5-24-99 pursuant to section 100, title 1, California Code of Regulations (Register 99, No. 22).
5. Change without regulatory effect amending Exhibit D instructions on form and amending NOTE filed 11-23-2005 pursuant to section 100, title 1, California Code of Regulations (Register 2005, No. 47).
6. Repealer and new section filed 4-1-2010 as an emergency; operative 4-1-2010 (Register 2010, No. 14). A Certificate of Compliance must be transmitted to OAL by 9-28-2010 or emergency language will be repealed by operation of law on the following day.
7. Repealer and new section refiled 9-28-2010 as an emergency; operative 9-28-2010 (Register 2010, No. 40). A Certificate of Compliance must be transmitted to OAL by 12-27-2010 or emergency language will be repealed by operation of law on the following day.
8. Repealer and new section refiled 12-23-2010 as an emergency; operative 12-23-2010 (Register 2010, No. 52). A Certificate of Compliance must be transmitted to OAL by 3-23-2011 or emergency language will be repealed by operation of law on the following day.
9. Certificate of Compliance as to 12-23-2010 order, including amendment of subsections (b)(1) and (b)(4) and NOTE, transmitted to OAL 3-14-2011 and filed 4-25-2011; amendments operative 5-25-2011 (Register 2011, No. 17).

Note: Authority cited: Sections 50150 and 50304, Financial Code. Reference: Section 1633.7, Civil Code; and Sections 50002, 50002.5, 50003, 50120, 50122, 50130, 50140 and 50146, Financial Code.

1. New article 2 (sections 1950.122-1950.122.3) and section filed 11-25-96; operative 12-25-96 (Register 96, No. 48).
2. Editorial correction of section heading and form (Register 99, No. 9).
3. Change without regulatory effect amending Exhibit M of form filed 2-24-99 pursuant to section 100, title 1, California Code of Regulations (Register 99, No. 9).
4. Change without regulatory effect amending facing page filed 5-24-99 pursuant to section 100, title 1, California Code of Regulations (Register 99, No. 22).
5. Change without regulatory effect amending Exhibit D instructions on form and amending Note filed 11-23-2005 pursuant to section 100, title 1, California Code of Regulations (Register 2005, No. 47).
6. Repealer and new section filed 4-1-2010 as an emergency; operative 4-1-2010 (Register 2010, No. 14). A Certificate of Compliance must be transmitted to OAL by 9-28-2010 or emergency language will be repealed by operation of law on the following day.
7. Repealer and new section refiled 9-28-2010 as an emergency; operative 9-28-2010 (Register 2010, No. 40). A Certificate of Compliance must be transmitted to OAL by 12-27-2010 or emergency language will be repealed by operation of law on the following day.
8. Repealer and new section refiled 12-23-2010 as an emergency; operative 12-23-2010 (Register 2010, No. 52). A Certificate of Compliance must be transmitted to OAL by 3-23-2011 or emergency language will be repealed by operation of law on the following day.
9. Certificate of Compliance as to 12-23-2010 order, including amendment of subsections (b)(1) and (b)(4) and Note, transmitted to OAL 3-14-2011 and filed 4-25-2011; amendments operative 5-25-2011 (Register 2011, No. 17).