California Code of Regulations › Title 10 - Investment › Chapter 3 - Commissioner of Financial Protection and Innovation › Subchapter 11.5 › Article 2 - Application for Licensure and Related Forms › Section 1950.122.11 - Challenge Process for Information Entered into NMLS

Current through Register 2024 Notice Reg. No. 28, July 12, 2024
(a) If an applicant or licensee disputes the
				  accuracy or completeness of any material information entered into and
				  maintained by NMLS, the applicant or licensee may submit a written request to
				  the Commissioner to the attention of the Special Administrator, California
				  Residential Mortgage Lending Act, Department of Corporations, 320 West 4th
				  Street, Suite 750, Los Angeles, CA 90013-2344.
(b) The request shall include the applicant
				  or licensee's name, unique identifier, a statement of the alleged inaccuracy or
				  incompleteness of the information entered into NMLS, and its materiality, and
				  shall provide any proof or corroboration available, including copies of
				  official documents or court orders that support the changes requested by the
				  applicant.
(c) Upon receipt of the
				  request, the Commissioner shall investigate the request, along with any
				  information provided, and determine if the information entered into NMLS is
				  correctly reflected.
(d) If the
				  Commissioner determines that the information is materially incorrect, the
				  Commissioner shall request that the NMLS record be corrected.
(e) If the Commissioner denies the
				  allegations of material inaccuracy or incompleteness in the NMLS record, the
				  Commissioner shall notify the licensee or applicant in writing.
(f) Within 30 days from the mailing or
				  service of the notification, the person may request a hearing under the
				  Administrative Procedure Act (Chapter 5 (commencing with Section
				  11500) of Part 1, Division 3,
				  Title 2 of the Government Code) for a determination of whether material
				  inaccuracy or incompleteness exists in the record.
(g) If a material inaccuracy or
				  incompleteness is found in any record, within 30 days of notice of the finding
				  the Commissioner shall request that NMLS correct the information.
(h) Judicial review of the decision shall be
				  governed by Section
				  11523 of
				  the Government Code.
1. New
					 section filed 4-1-2010 as an emergency; operative 4-1-2010 (Register 2010, No.
					 14). A Certificate of Compliance must be transmitted to OAL by 9-28-2010 or
					 emergency language will be repealed by operation of law on the following
					 day.
2. New section refiled 9-28-2010 as an emergency; operative
					 9-28-2010 (Register 2010, No. 40). A Certificate of Compliance must be
					 transmitted to OAL by 12-27-2010 or emergency language will be repealed by
					 operation of law on the following day.
3. New section refiled
					 12-23-2010 as an emergency; operative 12-23-2010 (Register 2010, No. 52). A
					 Certificate of Compliance must be transmitted to OAL by 3-23-2011 or emergency
					 language will be repealed by operation of law on the following
					 day.
4. Certificate of Compliance as to 12-23-2010 order, including
					 amendment of section heading, transmitted to OAL 3-14-2011 and filed 4-25-2011;
					 amendments operative 5-25-2011 (Register 2011, No.
					 17).
Note: Authority cited: Sections
						50146 and
						50304,
						Financial Code. Reference: Section
						50150,
						Financial Code.