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State: 300 mortgage originators have not renewed licenses

By Star-Advertiser Staff

POSTED:
LAST UPDATED: 05:08 p.m. HST, Jan 02, 2014



A state regulator today released a list of more than 300 Hawaii mortgage loan originators that failed to renew their licenses and will be unable to lawfully process new mortgages.

Commissioner of Financial Institutions Iris Ikeda-Catalani warned that consumers should check that their mortgage agent renewed their license with the state's Division of Financial Institutions. A mortgage processed by an mortgage loan originator or mortgage loan origination company without renewal will be considered unlicensed activity, according to a news release from DFI.

The outstanding MLOs and MLOCs have until Feb. 28 to renew their license in order to conduct business in Hawaii this year. A list of the MLOs and MLOCs that did not renew in time are posted on DFI's website at: http://cca.hawaii.gov/dfi/.






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2NDC wrote:
Seems like a large number that failed to renew. Was there a substantial rise in licensing fees or simply that many folks decided to get out of the business?
on January 2,2014 | 07:03PM
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