Code of Alabama
Title 5 - Banks and Financial Institutions.
Chapter 26 - Alabama Secure and Fair Enforcement for Mortgage Licensing Act of 2009.

Section 5-26-1 - Short Title. - This chapter may be cited as the Alabama Secure and...

Section 5-26-2 - Legislative Findings. - The activities of mortgage loan originators and the origination or...

Section 5-26-3 - Definitions. - For purposes of this chapter, the following definitions shall apply:...

Section 5-26-4 - License and Registration Required. - (1) In general. An individual, unless specifically exempted from this...

Section 5-26-5 - State License and Registration Application and Issuance. - (1) Application form. Applicants for a license shall apply in...

Section 5-26-6 - Issuance of License. - The supervisor shall not issue a mortgage loan originator license...

Section 5-26-7 - Pre-Licensing Education of Loan Originators. - (1) Minimum educational requirements. In order to meet the pre-licensing...

Section 5-26-8 - Testing of Loan Originators. - (1) In general. In order to meet the written test...

Section 5-26-9 - Standards for License Renewal. - (1) In general. The minimum standards for license renewal for...

Section 5-26-10 - Continuing Education for Mortgage Loan Originators. - (1) In general. In order to meet the annual continuing...

Section 5-26-11 - Authority to Require License. - In addition to any other duties imposed upon the supervisor...

Section 5-26-12 - Nationwide Mortgage Licensing System and Registry Information Challenge Process. - The supervisor shall establish a process whereby mortgage loan originators...

Section 5-26-13 - Enforcement Authorities, Violations, and Penalties. - (1) In order to ensure the effective supervision and enforcement...

Section 5-26-14 - Surety Bond Required. - (1) Coverage, form and regulations. Each mortgage loan originator shall...

Section 5-26-15 - Confidentiality. - In order to promote more effective regulation and reduce regulatory...

Section 5-26-16 - Investigation and Examination Authority. - In addition to any authority allowed under this chapter the...

Section 5-26-17 - Prohibited Acts and Practices. - It is a violation of this chapter for a person...

Section 5-26-18 - Mortgage Call Reports. - Each person employing a mortgage loan originator licensed under this...

Section 5-26-19 - Report to Nationwide Mortgage Licensing System and Registry. - Notwithstanding state privacy law, the supervisor is required to report...

Section 5-26-20 - Unique Identifier Shown. - The unique identifier of any person originating a residential mortgage...