Section 2036.5 - Notice of Changes by Student Loan Servicer(a) Each licensed student loan servicer shall, upon any change in the information contained in its application for a license (other than changes in financial information or its Policies and Procedures, demonstrating how the applicant will comply with the borrower protection requirements required under section 2033.5, subdivision (a)(7) of these rules) file an amendment to such application setting forth the changed information. All such amendments shall be filed within ten business days of the occurrence of the event that results in the information becoming inaccurate or incomplete.(b) A student loan servicer shall file changed information contained in its Forms MU1, MU2, and MU3, and any exhibits thereto, through NMLS, in accordance with its procedures, for transmission to the Commissioner. Any change that cannot be submitted through NMLS shall be filed directly with the Commissioner.Cal. Code Regs. Tit. 10, § 2036.5
Note: Authority cited: Section 28106, Financial Code. Reference: Section 1798.18, Civil Code; and Sections 28110 and 28126, Financial Code.
1. New section filed 3-28-2019; operative 3/28/2019 pursuant to Government Code section 11343.4(b)(3) (Register 2019, No. 13).
2. Amendment of subsection (a) filed 10-4-2023; operative 1/1/2024 (Register 2023, No. 40).