Statutes, codes, and regulations
California Code Of Regulations
Title 10 - InvestmentChapter 3 - Commissioner of Financial Protection and InnovationSubchapter 6 - California Financing Law
Article 1 - General Provisions
Section 1409.1 - Notice of Changes by Licensee on NMLS

Cal. Code Regs. tit. 10 § 1409.1

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Current through Register 2024 Notice Reg. No. 25, June 21, 2024
Section 1409.1 - Notice of Changes by Licensee on NMLS
(a) Each licensee on NMLS, including a mortgage loan originator licensee, shall, upon any change in the information contained in its license application (other than financial information contained therein) promptly file an amendment to such application setting forth the changed information.
(b) A licensee on NMLS 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.
(c) A mortgage loan originator shall file changed information contained in its Form MU4, and any exhibits thereto, through NMLS in accordance with its procedures for transmission to the Commissioner within twenty (20) days of changes to the information as provided in section 1422.6 of subchapter 6 of these rules. Any change that cannot be submitted through NMLS shall be filed directly with the Commissioner. A mortgage loan originator may not renew his or her license under section 1422.6.3 of subchapter 6 of these rules until all changes to the information contained in his or her Form MU4 are filed with the Commissioner as provided in this section.
(d) A licensed mortgage lender, mortgage broker, and mortgage lender and broker shall notify the Commissioner of the employment of any new mortgage loan originator in California and of the termination of employment of any mortgage loan originator in California in accordance with section 1422.6 of subchapter 6 of these rules.
(e) If a mortgage lender, mortgage broker, or mortgage lender and broker discovers that a sponsored mortgage loan originator has not filed an amendment to his or her Form MU4, the mortgage lender, mortgage broker, or mortgage lender and broker shall require the mortgage loan originator to file the amendment immediately. If, within five (5) days from the demand, the mortgage loan originator has not made the changes, the mortgage lender, mortgage broker, or mortgage lender and broker shall inform the Commissioner in writing.

Cal. Code Regs. Tit. 10, § 1409.1

1. New section filed 4-1-2010 as an emergency; operative 7-31-2010 (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.
2. Editorial correction of HISTORY 1 (Register 2010, No. 40).
3. New section refiled 9-28-2010 as an emergency, including repealer of subsection (f); 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.
4. 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.
5. Certificate of Compliance as to 12-23-2010 order, including amendment of subsection (e), transmitted to OAL 3-14-2011 and filed 4-25-2011; amendments operative 5-25-2011 (Register 2011, No. 17).
6. Amendment of section heading, section and NOTE filed 8-5-2021; operative 10-1-2021 (Register 2021, No. 32). Transmission deadline specified in Government Code section 11346.4(b) extended 60 calendar days pursuant to Executive Order N-40-20 and an additional 60 calendar days pursuant to Executive Order N-71-20. Filing deadline specified in Government Code section 11349.3(a) extended 60 calendar days pursuant to Executive Order N-40-20 and an additional 60 calendar days pursuant to Executive Order N-71-20.
7. Editorial correction of section heading (Register 2022, No. 44).

Note: Authority cited: Sections 22108 and 22150, Financial Code. Reference: Section 1798.18, Civil Code; and Sections 22100, 22106 and 22108, Financial Code.

1. New section filed 4-1-2010 as an emergency; operative 7-31-2010 (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.
2. Editorial correction of History 1 (Register 2010, No. 40).
3. New section refiled 9-28-2010 as an emergency, including repealer of subsection (f); 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.
4. 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.
5. Certificate of Compliance as to 12-23-2010 order, including amendment of subsection (e), transmitted to OAL 3-14-2011 and filed 4-25-2011; amendments operative 5-25-2011 (Register 2011, No. 17).
6. Amendment of section heading, section and Note filed 8-5-2021; operative 10/1/2021 (Register 2021, No. 32). Transmission deadline specified in Government Code section 11346.4(b) extended 60 calendar days pursuant to Executive Order N-40-20 and an additional 60 calendar days pursuant to Executive Order N-71-20. Filing deadline specified in Government Code section 11349.3(a) extended 60 calendar days pursuant to Executive Order N-40-20 and an additional 60 calendar days pursuant to Executive Order N-71-20.