412:9-501 Registration of nondepository financial services loan companies with NMLS. (a) A nondepository financial services loan company licensed under this chapter is not a mortgage loan originator company as defined in section 454F-1.

(b) A nondepository financial services loan company shall register with NMLS if any employee of the nondepository financial services loan company acts as a mortgage loan originator as defined in section 454F-1 or if the nondepository financial services loan company uses the services of an exclusive independent contractor mortgage loan originator, or loan processor or underwriter, as defined in chapter 454F.

(c) This section does not exempt an employee of a nondepository financial services loan company who originates mortgage loans, or an independent contractor providing mortgage loan originating, processing, or underwriting services to a nondepository financial services loan company, from licensure under chapter 454F. [L 2010, c 84, 2; am L 2013, c 168, 1, 20]

 

 

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