Fabio
76b8ec33a7
Ingested titles 12–51 and 54 from OLRC USLM XML @119-100 (the whole Code now, uniform edition; Title 53 is reserved/empty). LegalText 11,221 -> 59,740; repo total 105,704 records. Deterministic (byte-identical rerun, verified on Title 42's 8,356 sections); make check green. make legal-us-code default now covers every title. Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
48 lines
2.2 KiB
Markdown
48 lines
2.2 KiB
Markdown
---
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type: "LegalText"
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title: "12 U.S.C. § 5103"
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description: "License or registration required"
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jurisdiction: "us"
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corpus: "united_states_code"
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kind: "code_section"
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title_number: 12
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title_name: "BANKS AND BANKING"
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chapter_number: "51"
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chapter_name: "SECURE AND FAIR ENFORCEMENT FOR MORTGAGE LICENSING"
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section: "5103"
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citation: "12 U.S.C. § 5103"
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status: "current"
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release_point: "119-100"
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release_date: "2026-06-26"
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source: "official"
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source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc12@119-100.zip"
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source_identifier: "/us/usc/t12/s5103"
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source_file: "data/legal/raw/us/code/title-12/usc12.xml"
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source_hash: "7b3475d31ed0757ca39674605f68513da02897e7c4e4a0bb607c6ccfbe8839e9"
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raw_snapshot_hash: "e6b98700ef4156ac33fde5d105824845d727afa91a53f3762be2cf4d1a3b01fa"
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text_hash: "8a4f268eb77c1eda5a1482d70b4ea2c292e8f0206636602514a3f6fc1534418a"
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retrieved_at: "2026-07-04"
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confidence: "official"
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tags: ["legal", "us-code"]
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---
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# 12 U.S.C. § 5103 - License or registration required
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## Text
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(a) In general Subject to the existence of a licensing or registration regime, as the case may be, an individual may not engage in the business of a loan originator without first—
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(1) obtaining, and maintaining annually—
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(A) a registration as a registered loan originator; or
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(B) a license and registration as a State-licensed loan originator; and
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(2) obtaining a unique identifier.
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(b) Loan processors and underwriters (1) Supervised loan processors and underwriters A loan processor or underwriter who does not represent to the public, through advertising or other means of communicating or providing information (including the use of business cards, stationery, brochures, signs, rate lists, or other promotional items), that such individual can or will perform any of the activities of a loan originator shall not be required to be a State-licensed loan originator.
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(2) Independent contractors An independent contractor may not engage in residential mortgage loan origination activities as a loan processor or underwriter unless such independent contractor is a State-licensed loan originator.
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(Pub. L. 110–289, div. A, title V, § 1504, July 30, 2008, 122 Stat. 2814.)
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