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.
Amends: Mortgages - Chapter 36 of 21 GCA “Real Property. (1994)
Authors and Publishers
Spain ceded Guam to the US in 1898. Captured by the Japanese in 1941, it was retaken by the US three years later. The military installations on the island are some of the most strategically important US bases in the Pacific.
Guam is a presidential democracy. Guam is a self-governing unincorporated territory of the US.
Source: CIA World Factbook