Hawaii Modifies Licensing Requirements
Hawaii Senate Bill 951 amends the Hawaii Revised Statutes, Section 454-1 by updating mortgage loan origination licensing law to clarify:
- Persons who are subject to criminal history disclosures and criminal history background checks on applications for licensure and change in control of the licensee;
- Procedures involving the change in control of a licensee;
- Persons required to disclose their relevant criminal history and criminal history background checks upon application for licensure and change of control of the licensee;
- Criminal background check fee requirements; and
- Conditions under which an employee performing mortgage loan origination activities for a nonprofit is exempt from registration and licensure as a mortgage loan originator.
The new requirements are effective September 1, 2017.
