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Consumer Finance and Mortgage

The Office of Consumer Finance is responsible for issuing licenses and registrations to over 8,000 mortgage and consumer finance entities doing business in Michigan. Authority to conduct business is granted under the following acts: Consumer Financial Services Act; Credit Card Arrangements Act; Debt Management Act; Deferred Presentment Service Transactions Act; Money Transmission Services Act; Mortgage Brokers, Lenders, and Servicers Licensing Act; Mortgage Loan Originator Licensing Act; Motor Vehicle Sales Finance Act; Regulatory Loan Act; and Secondary Mortgage Loan Act.

The Office is also responsible for supervising the licensees and registrants, as provided under these statutes, to ensure the entities operate safely, responsibly, and in accordance with applicable law. Supervisory activities include conducting on-site examinations of books and records, investigating consumer complaints, and initiating enforcement actions in accordance with applicable statutes.

What's New

• 2014 DIFS Mortgage Seminar PowerPoint Presentation PDF icon

• 2014 DIFS Mortgage Seminar Handout #1 - Helpful Hints and Resources PDF icon

• 2014 DIFS Mortgage Seminar Handout #2 - CFPB's ATR QM Comparison Chart PDF icon

• Mortgage Pre-Examination Questionnaire - Servicer ONLY PDF icon

• Mortgage Pre-Examination Questionnaire - Broker/Lender PDF icon

• Mortgage Pre-Examination Questionnaire - Broker/Lender/Servicer PDF icon ***Please note: All three of the Questionnaires above are the standard templates, and are subject to change or modification at any time.

• New MLO State Specific Education Requirements Beginning September 1, 2013 PDF icon


Mortgage Industry Advisory Board

• MIAB Bylaws PDF icon

• 2013 Board Meeting Minutes PDF icon

• 2012 Board Meeting Minutes PDF icon

• 2011 Board Meeting Minutes PDF icon

• 2010 Board Meeting Minutes PDF icon


Commissioners Orders, Rulings and Communications

• Advertising Letter


Regulated Entities

• Consumer Financial Service Licensee (Omnibus) Locator

• Credit Card Licensee Locator

• Debt Management Locator

• Deferred Presentment Locator

• Loan Originator Licensee Locator

• Money Transmitter Licensee Locator

• Mortgage and Consumer Finance Licensee/Registrant Locator

• Mortgage Servicers and Loss Mitigation Phone Numbers

• Motor Vehicle Installment Seller Licensee Locator

• Motor Vehicle Sales Finance Licensee Locator

• Regulatory Loan Licensee Locator


Enforcements and Prohibitions

• Enforcements and Prohibitions


Reports

• Our Current Annual Report PDF icon


Related Links

• American Association of Residential Mortgage Regulators (AARMR)

• Michigan Mortgage Lenders Association (MMLA)

• Money Transmitter Regulators Association (MTRA)

• National Association of Consumer Credit Administrators (NACCA)


Codes and Acts

• Consumer Financial Services Act

• Credit Card Arrangements Act

• Debt Management Act

• Deferred Presentment Services Transaction Act

• Money Transmission Services Act

• Mortgage Brokers, Lenders, and Servicers Licensing Act

• Mortgage Loan Originator Licensing Act

• Motor Vehicle Sales Finance Act

• Regulatory Loan Act

• The Secondary Mortgage Loan Act


Bulletins and Statements

• Statement on Subprime Mortgage Lending PDF icon

• Consumer Finance and Mortgage Industry Bulletins

• Financial Institutions Position Statements

• Non-traditional Mortgage Products Guidance PDF icon

• DIFS Bulletins


Forms

• Consumer Finance Application Forms




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