North Dakota Department of Financial Institutions · ND
New Residential Mortgage Lender License and Branch Registration
June 5, 2023
Summary
North Dakota has established a new licensing framework under NDCC Chapter 13-12 specifically for residential mortgage lenders. Effective August 1, 2023, entities previously regulated under the Money Brokers Act must transition to this new Residential Mortgage Lender license.
June 5, 2023
BISMARCK, N.D. - Senate Bill 2090 creates and enacts North Dakota Century Code (NDCC) Chapter 13-12, relating to licensure of Residential Mortgage Lenders. Beginning August 1, 2023, Residential Mortgage Lenders will no longer be regulated under the North Dakota Money Brokers Act and will be required to hold and maintain a Residential Mortgage Lender license under the new Chapter (NDCC 13-12).
Source: https://www.nd.gov/dfi/news-and-publications/press-releases
Common questions
- What does "New Residential Mortgage Lender License and Branch Registration" cover?
- North Dakota has established a new licensing framework under NDCC Chapter 13-12 specifically for residential mortgage lenders. Effective August 1, 2023,…
- Which agency issued this update?
- This update was issued by North Dakota Department of Financial Institutions.
- When was it published?
- It was published on June 5, 2023.
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