6154 - Procedure for determination of noncompliance with Federal law. - Pennsylvania Statutes

§ 6154. Procedure for determination of noncompliance with Federal law. (a) Applicability.--This section applies if, because of a determination under paragraph (4) of the definition of "mortgage originator" in section 6102 (relating to definitions), an employee: (1) is required to be licensed as a mortgage originator under state laws implementing the S.A.F.E. Mortgage Licensing Act of 2008 (110 Stat. 289, 12 U.S.C. § 5101 et seq.); and (2) is thus required to be licensed as a mortgage originator. (b) Continuation.--An employee specified in subsection (a) may continue to act in the employee's current capacity if the employee files an application for a mortgage originator license with the department within 60 days of the date of the determination. (Aug. 5, 2009, P.L.117, No.31, eff. imd.) 2009 Amendment. Act 31 added section 6154. Cross References. Section 6154 is referred to in section 6102 of this title.