209 CMR, § 41.11 - Challenge Process
(1) A Mortgage Loan
Originator may challenge information entered into the NMLS by the Division.
Such challenge must be in writing and must set forth the specific information
being challenged and include supporting evidence. The grounds for the challenge
shall be limited to the factual accuracy of the information pertaining to the
Mortgage Loan Originator's own license record that has been entered into the
NMLS by the Division. A Mortgage Loan Originator shall not submit a challenge
in order to protest disciplinary action taken against the Mortgage Loan
Originator by the Division or to appeal the underlying reasons for the
disciplinary action.
(2) The
Commissioner shall review all information submitted by the Mortgage Loan
Originator and shall determine the merits of the challenge. If the Commissioner
determines that the information submitted to the NMLS is factually incorrect,
the Commissioner shall take prompt steps to correct the information
submitted.
(3) A Mortgage Loan
Originator that is aggrieved by the Commissioner's decision in response to the
challenge submitted may appeal said decision within 30 days of the
Commissioner's decision, in accordance with M.G.L. c. 30A.
Notes
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