Guam Secure and Fair Enforcement for Mortgage Licensing Act of 2010 (Public Law 30-151 - An Act to add a new Article 3 to Chapter 36 of Title 18, Guam Code Annotated, relative to the establishment of a secure and fair enforcement for Mortgage Licensing Act).

This Act amends Chapter 36 of Title 21 on mortgages by adding a new article which is called the Guam Secure and Fair Enforcement for Mortgage Licensing Act of 2010. This Act provides for control on the business of mortgaged lending. No person shall engage in the business of a mortgage loan originator with respect to any dwelling located in Guam without first obtaining annually a license from Guam's Banking and Insurance Commissioner. Each licensed mortgage loan originator must register with and maintain a valid unique identifier issued by the Nationwide Mortgage Licensing System and Registry.

Guam (USA) · 2010-05-25