capitol dome
Michigan Legislative Website


Michigan Compiled Laws Complete Through PA 29 of 2013
House: Adjourned until Thursday, May 23, 2013 12:00:00 PM
Senate: Adjourned until Thursday, May 23, 2013 10:00:00 AM

Michigan Legislative Website

Main Content

MCL Index

Show update info: 
NOTE: Dates reflect any modification to item, not necessarily a change in law.

Act 75 of 2009 - MORTGAGE LOAN ORIGINATOR LICENSING ACT (493.131 - 493.171)
Section 493.131 ‑ Short title.
Section 493.133 ‑ Definitions.
Section 493.135 ‑ Engaging in business of mortgage loan originator; license required; exemptions; independent contractor; establishment of licensing rules and interim procedures.
Section 493.137 ‑ Application; form; fee; criminal history check; relationships or contracts with nationwide mortgage licensing system and registry; furnishing certain information; use.
Section 493.139 ‑ Issuance of mortgage loan originator license; findings; conviction.
Section 493.141 ‑ Prelicensing education requirements.
Section 493.143 ‑ Qualified written test.
Section 493.145 ‑ Annual renewal; expiration; reinstatement.
Section 493.147 ‑ Continuing education requirements.
Section 493.149 ‑ Fees; reports; penalties; deposit of money in MBLSLA fund; limitation on fee levels.
Section 493.151 ‑ Mortgage loan originators; license and registration through nationwide mortgage licensing system and registry; rules.
Section 493.153 ‑ Process for challenging information entered.
Section 493.155 ‑ Powers of commissioner; finding of violation or noncompliance; fine.
Section 493.157 ‑ Fraud; notice of intent to prohibit licensure; contents; hearing; order; service; application to terminate order; imminent threat of financial loss to customers; conviction of felony; mailing of notice or issued to employer or principal; decision; judicial review; enforcement; violation of final order; "fraud" defined.
Section 493.159 ‑ Surety bond.
Section 493.161 ‑ Privacy or confidentiality of information or material.
Section 493.163 ‑ Investigations and examinations; access to books and records; reports; control of access to documents or records; duties and authority of commissioner; prohibited conduct by licensed mortgage loan originator or person subject to investigation.
Section 493.165 ‑ Licensed mortgage loan originator; prohibited conduct.
Section 493.167 ‑ Reports of condition.
Section 493.169 ‑ Report of violations; rules.
Section 493.171 ‑ Unique identifier of originator of residential mortgage loan.