Clarification on Mortgage Broker Regulations

[Craig Gabriel]

Our mortgage broker company is currently reviewing the regulations in our state to make sure we are fully in compliance with everything if and when we are examined.

In the section of the law that explains the recordkeeping requirements, there is a subsection that applies specifically to the files for loans that "closed in the mortgage broker's name." What does this mean? Does it refer to cases where the mortgage broker also is the lender?

Our company is on the paperwork as the broker, never as the lender. So does this subsection not apply to us?