State Codes and Statutes

Statutes > California > Fin > 50150-50152

FINANCIAL CODE
SECTION 50150-50152



50150.  (a) The commissioner is authorized to establish
relationships or contracts with the Nationwide Mortgage Licensing
System and Registry or other entities designated by the Nationwide
Mortgage Licensing System and Registry to collect and maintain
records and process transaction fees or other fees related to
licensees or other persons subject to this division.
   (b) For the purpose of participating in the Nationwide Mortgage
Licensing System and Registry, the commissioner is authorized to
waive or modify, in whole or in part, by rule, regulation, or order,
any or all of the requirements of this division and to establish new
requirements as reasonably necessary to participate in the Nationwide
Mortgage Licensing System and Registry.
   (c) The commissioner may use the Nationwide Mortgage Licensing
System and Registry as a channeling agent for requesting information
from, and distributing information to, the Department of Justice or
any governmental agency.
   (d) The commissioner may use the Nationwide Mortgage Licensing
System and Registry as a channeling agent for requesting and
distributing information to and from any source so directed by the
commissioner.
   (e) The commissioner shall establish a process where applicants
and licensees may challenge information entered into the Nationwide
Mortgage Licensing System and Registry by the commissioner.




50151.  (a) Except as otherwise provided in Section 1512 of the SAFE
Act, the requirements under any federal law or the Information
Practices Act (Chapter 1 (commencing with Section 1798) of Part 4 of
Division 3 of the Civil Code) regarding the privacy or
confidentiality of any information or material provided to the
Nationwide Mortgage Licensing System and Registry, and any privilege
arising under federal or state law, including the rules of any
federal or state court, with respect to that information or material,
shall continue to apply to the information or material after the
information or material has been disclosed to the Nationwide Mortgage
Licensing System and Registry. The information and material may be
shared with all state and federal regulatory officials with mortgage
industry oversight authority without the loss of privilege or the
loss of confidentiality protections provided by federal law or the
Information Practices Act.
   (b) Information or material that is subject to a privilege or
confidentiality under subdivision (a) shall not be subject to the
following:
   (1) Disclosure under any federal or state law governing the
disclosure to the public of information held by an officer or an
agency of the federal government or the state.
   (2) Subpoena or discovery, or admission into evidence, in any
private civil action or administrative process, unless with respect
to any privilege held by the Nationwide Mortgage Licensing System and
Registry with respect to the information or material, the person to
whom the information or material pertains waives, in whole or in
part, in the discretion of that person, that privilege.
   (c) This section shall not apply with respect to the information
or material relating to the employment history of, and publicly
adjudicated disciplinary and enforcement actions against, mortgage
loan originators that is included in the Nationwide Mortgage
Licensing System and Registry for access by the public.



50152.  The commissioner shall report regularly violations of this
division, as well as enforcement actions and other relevant
information, to the Nationwide Mortgage Licensing System and
Registry, to the extent that information is public record.



State Codes and Statutes

Statutes > California > Fin > 50150-50152

FINANCIAL CODE
SECTION 50150-50152



50150.  (a) The commissioner is authorized to establish
relationships or contracts with the Nationwide Mortgage Licensing
System and Registry or other entities designated by the Nationwide
Mortgage Licensing System and Registry to collect and maintain
records and process transaction fees or other fees related to
licensees or other persons subject to this division.
   (b) For the purpose of participating in the Nationwide Mortgage
Licensing System and Registry, the commissioner is authorized to
waive or modify, in whole or in part, by rule, regulation, or order,
any or all of the requirements of this division and to establish new
requirements as reasonably necessary to participate in the Nationwide
Mortgage Licensing System and Registry.
   (c) The commissioner may use the Nationwide Mortgage Licensing
System and Registry as a channeling agent for requesting information
from, and distributing information to, the Department of Justice or
any governmental agency.
   (d) The commissioner may use the Nationwide Mortgage Licensing
System and Registry as a channeling agent for requesting and
distributing information to and from any source so directed by the
commissioner.
   (e) The commissioner shall establish a process where applicants
and licensees may challenge information entered into the Nationwide
Mortgage Licensing System and Registry by the commissioner.




50151.  (a) Except as otherwise provided in Section 1512 of the SAFE
Act, the requirements under any federal law or the Information
Practices Act (Chapter 1 (commencing with Section 1798) of Part 4 of
Division 3 of the Civil Code) regarding the privacy or
confidentiality of any information or material provided to the
Nationwide Mortgage Licensing System and Registry, and any privilege
arising under federal or state law, including the rules of any
federal or state court, with respect to that information or material,
shall continue to apply to the information or material after the
information or material has been disclosed to the Nationwide Mortgage
Licensing System and Registry. The information and material may be
shared with all state and federal regulatory officials with mortgage
industry oversight authority without the loss of privilege or the
loss of confidentiality protections provided by federal law or the
Information Practices Act.
   (b) Information or material that is subject to a privilege or
confidentiality under subdivision (a) shall not be subject to the
following:
   (1) Disclosure under any federal or state law governing the
disclosure to the public of information held by an officer or an
agency of the federal government or the state.
   (2) Subpoena or discovery, or admission into evidence, in any
private civil action or administrative process, unless with respect
to any privilege held by the Nationwide Mortgage Licensing System and
Registry with respect to the information or material, the person to
whom the information or material pertains waives, in whole or in
part, in the discretion of that person, that privilege.
   (c) This section shall not apply with respect to the information
or material relating to the employment history of, and publicly
adjudicated disciplinary and enforcement actions against, mortgage
loan originators that is included in the Nationwide Mortgage
Licensing System and Registry for access by the public.



50152.  The commissioner shall report regularly violations of this
division, as well as enforcement actions and other relevant
information, to the Nationwide Mortgage Licensing System and
Registry, to the extent that information is public record.




State Codes and Statutes

State Codes and Statutes

Statutes > California > Fin > 50150-50152

FINANCIAL CODE
SECTION 50150-50152



50150.  (a) The commissioner is authorized to establish
relationships or contracts with the Nationwide Mortgage Licensing
System and Registry or other entities designated by the Nationwide
Mortgage Licensing System and Registry to collect and maintain
records and process transaction fees or other fees related to
licensees or other persons subject to this division.
   (b) For the purpose of participating in the Nationwide Mortgage
Licensing System and Registry, the commissioner is authorized to
waive or modify, in whole or in part, by rule, regulation, or order,
any or all of the requirements of this division and to establish new
requirements as reasonably necessary to participate in the Nationwide
Mortgage Licensing System and Registry.
   (c) The commissioner may use the Nationwide Mortgage Licensing
System and Registry as a channeling agent for requesting information
from, and distributing information to, the Department of Justice or
any governmental agency.
   (d) The commissioner may use the Nationwide Mortgage Licensing
System and Registry as a channeling agent for requesting and
distributing information to and from any source so directed by the
commissioner.
   (e) The commissioner shall establish a process where applicants
and licensees may challenge information entered into the Nationwide
Mortgage Licensing System and Registry by the commissioner.




50151.  (a) Except as otherwise provided in Section 1512 of the SAFE
Act, the requirements under any federal law or the Information
Practices Act (Chapter 1 (commencing with Section 1798) of Part 4 of
Division 3 of the Civil Code) regarding the privacy or
confidentiality of any information or material provided to the
Nationwide Mortgage Licensing System and Registry, and any privilege
arising under federal or state law, including the rules of any
federal or state court, with respect to that information or material,
shall continue to apply to the information or material after the
information or material has been disclosed to the Nationwide Mortgage
Licensing System and Registry. The information and material may be
shared with all state and federal regulatory officials with mortgage
industry oversight authority without the loss of privilege or the
loss of confidentiality protections provided by federal law or the
Information Practices Act.
   (b) Information or material that is subject to a privilege or
confidentiality under subdivision (a) shall not be subject to the
following:
   (1) Disclosure under any federal or state law governing the
disclosure to the public of information held by an officer or an
agency of the federal government or the state.
   (2) Subpoena or discovery, or admission into evidence, in any
private civil action or administrative process, unless with respect
to any privilege held by the Nationwide Mortgage Licensing System and
Registry with respect to the information or material, the person to
whom the information or material pertains waives, in whole or in
part, in the discretion of that person, that privilege.
   (c) This section shall not apply with respect to the information
or material relating to the employment history of, and publicly
adjudicated disciplinary and enforcement actions against, mortgage
loan originators that is included in the Nationwide Mortgage
Licensing System and Registry for access by the public.



50152.  The commissioner shall report regularly violations of this
division, as well as enforcement actions and other relevant
information, to the Nationwide Mortgage Licensing System and
Registry, to the extent that information is public record.



Categories