Mississippi Code 1972 (2023) › Title 81 - BANKS AND FINANCIAL INSTITUTIONS (§§ 81-1-1 — 81-29-3) › Chapter 18 - MISSISSIPPI S.A.F.E. MORTGAGE ACT (§§ 81-18-1 — 81-18-63) › NATIONWIDE LICENSING SYSTEM (§§ 81-18-61 — 81-18-63) › Section 81-18-63 - Confidentiality of information or material provided to Nationwide Mortgage Licensing System and Registry

(1)
Except as otherwise provided in Public Law 110-289, Section 1512, the requirements under any federal law or applicable state law regarding the privacy or confidentiality of any information or material provided to the Nationwide Mortgage Licensing System and Registry, and any privilege arising under federal or state law (including the rules of any federal or state court) with respect to that information or material, shall continue to apply to the information or material after the information or material has been disclosed to the Nationwide Mortgage Licensing System and Registry. The information and material may be shared with all state and federal regulatory officials with mortgage industry oversight authority without the loss of privilege or the loss of confidentiality protections provided by federal law or applicable state law.
(2)
In order to promote more effective regulation and reduce regulatory burden through supervisory information sharing, the commissioner is authorized to enter agreements or sharing arrangements with other governmental agencies, the Conference of State Bank Supervisors, the American Association of Residential Mortgage Regulators or other associations representing governmental agencies as established by rule, regulation or order of the commissioner.
(3)
Information or material that is subject to a privilege or confidentiality under subsection (1) of this section shall not be subject to:
(a)
Disclosure under any federal or state law governing the disclosure to the public of information held by an officer or an agency of the federal government or the respective state; or
(b)
Subpoena or discovery, or admission into evidence, in any private civil action or administrative process, unless with respect to any privilege held by the Nationwide Mortgage Licensing System and Registry with respect to that information or material, the person to whom the information or material pertains waives, in whole or in part, in the discretion of the person, that privilege.
(4)
Any applicable state law relating to the disclosure of confidential supervisory information or any information or material described in subsection (1) of this section that is inconsistent with subsection (1) shall be superseded by the requirements of this section.
(5)
This section shall not apply with respect to the information or material relating to the employment history of, and publicly adjudicated disciplinary and enforcement actions against, mortgage loan originators that is included in the Nationwide Mortgage Licensing System and Registry for access by the public.
Laws, 2009, ch. 544, § 22; reenacted without change, Laws, 2010, ch. 462, § 30; reenacted without change, Laws, 2012, ch. 571, § 30, eff. 7/1/2012.
Reenacted without change by Laws, 2020, ch. 310, SB 2427,§ 34, eff. 7/1/2020.
Reenacted by Laws, 2016, ch. 360, SB 2504, 35, eff. 7/1/2016.