CO SB156

Extends the sunset date for the Board of Mortgage Loan Originators in the Division of Real Estate from July 1, 2013 to September 1, 2018.

Removes outdated provisions requiring mortgage loan originators licensed before January 1, 2010 to submit fingerprints and personal history information to the nationwide mortgage licensing system.

Changes board discretionary authority to mandatory denials for applicants with revoked mortgage loan originator licenses, fraud-related felony convictions, or felonies within seven years of application.

Modifies regulations for mortgage companies employing unlicensed individuals by clarifying that employees must be either licensed or actively in the process of becoming licensed.

Repeals a catch-all provision prohibiting failure to comply with mortgage loan originator regulations, instead specifying discrete prohibited conducts.