S.D. Codified Laws ch. 54-14 – Mortgage Lender Business | Midpage

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South Dakota Codified Laws

Chapter 54-14

S.D. Codified Laws ch. 54-14

Mortgage Lender Business

54-14-154-14-1 to 54-14-11. Repealed by SL 2007, ch 279, § 21.54-14-12Definitions.54-14-12.1Loan processor or underwriter defined.54-14-12.2Mortgage loan originator defined.54-14-12.3Real estate brokerage activity defined.54-14-12.4Registered mortgage loan originator defined.54-14-13License required for mortgage lenders, brokerage, brokers, and loan originators--Identification through nationwide mortgage licensing system and registry--Exemption.54-14-13.1(See § 54-14-13.3 for effective dates) Mortgage loan originator license--Required findings.54-14-13.3Effective dates of §§ 54-14-13.1 and 54-14-13.2.54-14-13.2(See § 54-14-13.3 for effective dates) Mortgage loan originator license--Renewal standards.54-14-13.4License required for loan processor or underwriter--Identification through nationwide mortgage licensing system and registry.54-14-13.5License required for company originating, selling, or servicing nonresidential mortgage loans.54-14-14Application for licensure or registration.54-14-15Information to be furnished to nationwide mortgage licensing system and registry--Distribution of information--Criminal background check.54-14-16Fees.54-14-17License and registration not assignable.54-14-18Expiration of license or registration.54-14-19Fees for renewal of license.54-14-20Exemption of certain entities from chapter.54-14-20.1Exemption of certain persons from mortgage loan originator license requirement.54-14-20.2Exemption of attorneys from mortgage loan originator license requirement.54-14-21Exemption of certain entities from licensing requirements.54-14-23Mortgage broker or lender permitted to use services of mortgage loan originator.54-14-24Surety bond requirements.54-14-25Violation of license or registration requirements--Misdemeanor.54-14-25.1Civil penalty for acting without required license or registration.54-14-26Examination and investigation by director.54-14-27Conditioning, denial, nonrenewal, suspension, or revocation of license.54-14-28Reinstatement of license or registration--Termination of suspension--New license or registration.54-14-29Procedure for contesting suspension or revocation.54-14-30Annual tax upon net income--Exemptions.54-14-31Promulgation of rules regarding licensing, education, and fees.54-14-32Disposition of fees.54-14-33Contracts with nationwide mortgage licensing system.54-14-34Promulgation of rules for challenging information entered in nationwide mortgage licensing system.54-14-35Sharing of information.54-14-36Reports of condition--Promulgation of rules.54-14-37Reports of violations and enforcement.54-14-38Improper influence on real estate appraisals prohibited--Grounds for discipline.54-14-39Conduct not constituting improper influence on real estate appraisals.54-14-40Remote work--Requirements.