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Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
2026-07-06 10:51:44 -04:00

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LegalText 12 U.S.C. § 1735f10 Change of mortgagee status us united_states_code code_section 12 BANKS AND BANKING 13 NATIONAL HOUSING 1735f10 12 U.S.C. § 1735f10 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip /us/usc/t12/s1735f10 data/legal/raw/us/code/title-12/usc12.xml cac5a89573d304dea343dd46eb4a0a4339d75397768e48f1a54bd00c0c830db5 e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa c17b78992b5d9978eb9c72f663d8b6999ecd52a346ab32a78354fcc033ad9325 2026-07-04 official
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12 U.S.C. § 1735f10 - Change of mortgagee status

Text

(a) Notification Upon the occurrence of any action described in subsection (b), an approved mortgagee shall immediately submit to the Secretary, in writing, notification of such occurrence.

(b) Actions The actions described in this subsection are as follows:

(1) The debarment, suspension or a Limited Denial of Participation (LDP), or application of other sanctions, other exclusions, fines, or penalties applied to the mortgagee or to any officer, partner, director, principal, manager, supervisor, loan processor, loan underwriter, or loan originator of the mortgagee pursuant to applicable provisions of State or Federal law.

(2) The revocation of a State-issued mortgage loan originator license issued pursuant to the S.A.F.E. Mortgage Licensing Act of 2008 (12 U.S.C. 5101 et seq.) or any other similar declaration of ineligibility pursuant to State law.

(June 27, 1934, ch. 847, title V, § 532, as added Pub. L. 11122, div. A, title II, § 203(e), May 20, 2009, 123 Stat. 1647.)

Notes

Editorial Notes

References in TextThe S.A.F.E. Mortgage Licensing Act of 2008, referred to in subsec. (b)(2), is title V of div. A of Pub. L. 110289, July 30, 2008, 122 Stat. 2810, also known as the Secure and Fair Enforcement for Mortgage Licensing Act of 2008, which is classified generally to chapter 51 (§ 5101 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 5101 of this title and Tables.

Prior ProvisionsA prior section 1735f10, act June 27, 1934, ch. 847, title V, § 532, as added Pub. L. 9735, title III, § 339G, Aug. 13, 1981, 95 Stat. 418, which related to purchaser-broker arrangement payments for insurance purposes, was repealed by section 203(e) of Pub. L. 11122.