12 CFR Part 1008 — SAFE Act Minimum State Licensing Standards for Mortgage Loan Originators (CFPB) § 1008.203 — The Bureau's establishment of loan originator licensing system
12 CFR Part 1008 — SAFE Act Minimum State Licensing Standards for Mortgage Loan Originators (CFPB), §1008.203 The Bureau's establishment of loan originator licensing system. Captured section-complete (all subsections verbatim).
Verbatim regulatory text
Verbatim provisions from 12 CFR Part 1008 — SAFE Act Minimum State Licensing Standards for Mortgage Loan Originators (CFPB) § 1008.203 — The Bureau's establishment of loan originator licensing system — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
12 CFR §1008.203
If the Bureau determines, in accordance with § 1008.115(e), that a state has not established a licensing and registration system in compliance with the minimum standards of the S.A.F.E. Act, the Bureau shall apply to individuals in that state the minimum standards of the S.A.F.E. Act, as specified in subpart B, which provides the minimum requirements that a state must meet to be in compliance with the S.A.F.E. Act, and as may be further specified in this part.