Getting your player ready...
Mortgage-loan originators must register with a national database under a bill recently signed into law by Gov. Bill Ritter.
House Bill 1085, also called the Colorado Mortgage Loan Originator Licensing Act, is designed to boost the state’s existing mortgage regulations and bring Colorado in line with recently enacted federal laws requiring the national registration.
All licensees must pass a national mortgage-broker test and an FBI background check. The law, effective Aug. 5, enables states to share information about loan originators so those who are kicked out of one state don’t go to another to do business.
