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4 chapters · 112 sections in this title.
Mich. Comp. Laws § 493.51 Short title; definitions.
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Sec. 1. (1) This act shall be known and may be cited as "the secondary mortgage loan act". (2) As used in this act: (a) "Broker" means a person who, directly or indirectly, does 1 or both of the following: (i) Serves or offers to serve as an agent for a person attempting to obtai…
Mich. Comp. Laws § 493.52 Broker, lender, or servicer; license or registration required; exemption; use of name or assumed name.
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Sec. 2. (1) A person shall not act as a broker, lender, or servicer without first obtaining a license under this act or registering under section 3a, unless 1 or more of the following apply: (a) The person is providing secondary mortgage loan officer services as an employee or ag…
Mich. Comp. Laws § 493.53 Application for license or registration; form and contents.
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Sec. 3. (1) An application for a license or registration under this act shall be in writing, under oath, and in the form prescribed by the commissioner. (2) The application shall state the name, residence, and business addresses of the applicant, each member if the applicant is a…
Mich. Comp. Laws § 493.53a Broker, lender, or servicer; registration with commissioner; form.
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Sec. 3a. The following persons shall register with the commissioner on a form prescribed by the commissioner: (a) A broker, lender, or servicer approved as a seller or servicer by the federal national mortgage association or the federal home loan mortgage corporation. (b) A broke…