Where can I obtain a copy of the MISSISSIPPI MORTGAGE CONSUMER PROTECTION LAW?
It can be obtained from this web site by clicking on “Mississippi Mortgage Consumer Protection Law – effective April 20, 2004” or by contacting the Department at 1-800-844-2499 and a copy will be mailed for a nominal fee. Who must be licensed or registered? Unless exempt, as stated in the law, any person who engages in residential mortgage lending activity in connection with residential real estate located in Mississippi , must obtain a mortgage company license or register as an originator. This includes both first and second mortgage loans on residential property. Commercial mortgages are not regulated at this time. Who is exempt from licensure or partially exempt from licensure? There are several. They are detailed in Section 81-18-5, MS Code of 1972, Annotated. The following are the major exemptions or partial exemptions: Any person authorized to engage in business as a bank holding company, any person authorized to engage in business as a financial holding company, bank, credit car
