Non-Depository Services Division
Nationwide Mortgage Licensing System (NMLS) Call Center (240) 386-4444
NMLS Training Available September 10th and October 8th
Company Basics: Effectively Transition or Apply for a New License using NMLSPress Release - - NMLS Available Beginning August 1, 2008
CSBS/AARMR
Nationwide Mortgage Licensing System Periodic Update July 22, 2008NMLS Uniform Annual Report
Request for Public Comments by August 11, 2008RML Continuing Education Update - Act 34 July 9, 2008
FTC Facts for Consumers - Foreclosure Rescue Scams
Mortgage Workouts, Now Tax-Free for Many Homeowners;
Claim Relief on Newly-Revised IRS Form Feb. 12, 2008Residential Mortgage Originators - Conditional Licensing Policy RML 01-08 Jan. 10, 2008
Mortgage Lenders and Originators - Pending 2008 License Update Jan. 4, 2008
Background Check Fee Reduced
Effective October 1, 2007, the Federal Bureau of Investigation has changed the fee
that they are charging to process their portion of background checks.
Therefore, OFI has reduced the background check fee from $50.00 to $45.25 per person to
reflect this change. If you are submitting a new application or renewal application
which requires a background check to be performed, the fee is now $45.25 per person.FTC Warns Mortgage Advertisers and Media That Ads May Be Deceptive! September 11, 2007
New Policy for Licensed Lenders with Multiple Locations August 29, 2007
Residential Mortgage
Lending - Dual Role Restrictions
Act 39 - 2007 Louisiana
Legislature
August 15, 2007
Ameriquest Settlement July 12, 2007
NOTICE:
Most non-depository
programs require that a licensee pay a fee and provide
prior written
notification of any changes such as:
● change of control in ownership or stock transfers,
● change of name,
● change of location,
● change in legal identity,
● addition of trade name, etc.
To avoid severe penalties for
failure to provide prior written notice, contact this office
at least 30 days
prior to any changes that you may be considering.
$50
background processing fee per person
4-6 weeks
MINIMUM processing time
2 sets of fully completed fingerprint cards
with clear fingerprints
IMPORTANT! Applicants are not
licensed to operate until a license is received.
This division is responsible for the licensing, supervision, and regulation of 11 programs. For brief descriptions of the types of entities supervised by this division, click here. For information regarding filing a complaint outside the Baton Rouge area but within Louisiana, please call our toll free number 1-888-525-9414. In the Baton Rouge area, call 922-2591. The e-mail address for the Non-Depository Division is ofiland@ofi.louisiana.gov. To file a written complaint with the Office of Financial Institutions on any of the following types of institutions listed below click here: Complaint form (pdf) Complaint form (MS Word) |
Bond for Deed
Persons designated by the parties to a bond for deed transaction to distribute payments made by the buyer to the holder of a mortgage in the real property subject to the transaction.
Check Cashers
A person, unless otherwise exempt, who accepts compensation for cashing checks, drafts, money orders, or other commercial paper.
Licensed Lenders
Persons engaged in the business of making consumer loans and financing insurance premiums (finance companies).
Notification Filers
Persons engaged in selling goods or services on credit and person who take assignment of an undertake direct collection of payments from or enforcement of rights against debtors arising from these sales or loans.
Pawnbrokers
Persons who lend money on a deposit or pledge or who take items into possession as security for money advanced.
Payday Lenders
Persons who make loans of $350 or less for a term of 60 days or less. Deferred presentment transactions are small loans of $350 or less where the lender accepts a check from the borrower and agrees to hold it for a period of 30 days or less prior to negotiation or presentment to the bank.
Repossession Agents
Persons who physically obtain possession of collateral for a secured party and engage in the business or accept employment to locate and recover collateral pursuant to the Louisiana Default Remedies Act, R.S. 6:965, et seq.
Residential Mortgage Lenders/Brokers
Persons who, for compensation or the expectation of compensation, obtain or offer to obtain loans secured by mortgages on residential property located in Louisiana. The term includes both lenders and brokers.