(a) The department may participate in the registry and pay the fees required for participation in the registry.
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Terms Used In Alaska Statutes 06.60.016

  • department: means the Department of Commerce, Community, and Economic Development. See Alaska Statutes 06.60.990
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
  • mortgage loan: means a residential mortgage loan. See Alaska Statutes 06.60.990
  • registry: means the Nationwide Mortgage Licensing System and Registry. See Alaska Statutes 06.60.990
(b) The department

(1) may establish relationships or contracts with the registry or other entities designated by the registry to collect and maintain records and process transaction fees or other fees related to licensees or other persons subject to this chapter;
(2) shall require mortgage licensees and mortgage loan originators to register with the registry; and
(3) shall establish by regulation a process that allows mortgage licensees and mortgage loan originators to challenge information entered into the registry by the department.
(c) The department may adopt emergency regulations under Alaska Stat. Chapter 44.62 (Administrative Procedure Act) to implement this section, including emergency regulations for the assessment of fees.
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