Non-Depository Services Division
2016 Emergency Flood
Residential Mortgage Lenders
Servicing Guidelines (FNMA, FHLMC, & FHA)
Disaster Assistance for Louisiana
programs require that a licensee pay a fee and provide
notification of any changes such as:
● change of control in ownership or stock transfers,
● change of name,
● change of location,
● change in legal identity,
● addition of trade name, etc.
To avoid severe penalties for
failure to provide prior written notice, contact this office
at least 30 days
prior to any changes that you may be considering.
IMPORTANT! Applicants are not
licensed to operate until a license is received.
division is responsible for the licensing, supervision, and regulation of 11
programs. For brief
descriptions of the types of entities supervised by this division,
click here. Click
here for information regarding filing a complaint The e-mail address for the Non-Depository
Division is email@example.com.
Bond for Deed
Persons designated by the parties to a bond for deed transaction to
distribute payments made by the buyer to the holder of a mortgage in the real property
subject to the transaction.
A person, unless otherwise exempt, who accepts compensation for
cashing checks, drafts, money orders, or other commercial paper.
Persons engaged in the business of making consumer loans and financing insurance
premiums (finance companies).
Persons engaged in selling goods or services on credit and person who take
assignment of an undertake direct collection of payments from or enforcement of rights
against debtors arising from these sales or loans.
Persons who lend money on a deposit or pledge or who take items into possession as
security for money advanced.
Deferred Presentment and Small Loans (Payday Lenders)
Persons who make loans of $350 or less for a term of
60 days or less. Deferred presentment transactions are small loans of $350 or less
where the lender accepts a check from the borrower and agrees to hold it for a period of
30 days or less prior to negotiation or presentment to the bank.
physically obtain possession of collateral for a secured party and engage in the
business or accept employment to locate and recover collateral pursuant to the
Louisiana Default Remedies Act, R.S. 6:965, et seq.
Residential Mortgage Lenders/Brokers
Persons who, for compensation or the expectation of compensation, obtain or offer
to obtain loans secured by mortgages on residential property located in Louisiana.
The term includes both lenders and brokers.
Last updated on
August 23, 2016