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Office of Economic Development and International Trade

Business Licensing Database
FINANCE COMPANY

Includes: Mortgage Companies, Individual Lenders, and Employee Trusts
ACCEPTANCE COMPANY AUTO FINANCING CHARGE ACCOUNT CONSUMER CREDIT
CREDIT EMPLOYEE TRUST FINANCE FINANCE BROKER
FINANCE COMPANY FINANCING LENDER LENDING
LOAN BROKER LOAN FINDER LOANS MONEY BROKER
MORTGAGE REVOLVING CHARGE ACCOUNT SALES FINANCE COMPANY SUPERVISED LENDING

Federal

U.S. Federal Trade Commission
600 Pennsylvania Ave, NW
Washington , DC   20580
(202)326-3553
(877)382-4357
Fax: (202)326-3197
Federal Truth in Lending laws on disclosure applies to creditors and lessors, as well as advertisers of "consumer credit" or a "consumer lease."

Link:  http://www.ftc.gov/bcp/menu-lending.htm

State

Colorado Department of Law
Uniform Consumer Credit Code (UCCC)
1525 Sherman St, 5th Fl.
Denver , CO   80203
(303)866-4527
Fax: (303)866-5691
Any company or person that regularly makes or takes assignment of consumer loans in Colorado with an annual percentage rate of more than 12% per annum, or who collects such loans that it previously made, is a supervised lender. Supervised loans include both secured and unsecured consumer loans, home equity loans and other junior lien mortgages, insurance premium financing, deferred deposit loans, credit cards, and first mortgage loans for purposes other than the purchase or refinancing of a home. Such lenders must be licensed by the UCCC as a supervised lender.

Link:  http://www.ago.state.co.us/UCCC/PDF/suplendlicenseapp.pdf
A supervised lender's license application requires background information on the applicant and its officers, members, and partners; proof of financial responsibility; and corporate status and trade name records. A supervised lender is subject to periodic unannounced compliance examinations, must respond to examination reports, and must file an annual statistical report each June 1.
The supervised lender license fee is $100 for the initial or master license and $50 for each branch office license. Licenses are renewed each January 31.
First mortgage residential acquisition loans and refinances of these loans are exempt from licensing and notification fees. State or federally-chartered depository institutions are also exempt from UCCC licensing.

State

Colorado Department of Regulatory Agencies
Division of Securities
1560 Broadway, Suite 900
Denver , CO   80202
(303)894-2320
Fax: (303)861-2126
If the loan is being sold to a non-financial institution, i.e. a retirement pension fund or an individual, contact the Division of Securities at 303-894-2320.
NOTE:  Money or Financing Brokers who do NOT lend money are not licensed or registered by the State of Colorado. Federal regulations and guidelines may apply.
NOTE:  If applicable, see MORTGAGE BUSINESS

page last updated 8/5/05

The Colorado Revised Statutes are available on line at http://198.187.128.12/colorado/lpext.dll?f=templates&fn=fs-main.htm&2.0. You can locate a statute of interest by searching either on the citation given in the database (e.g., 18-5-307) or on a keyword or phrase.

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