Who primarily oversees and regulates mortgage professionals in West Virginia?

The primary oversight and regulation of mortgage professionals in West Virginia falls to the Division of Financial Institutions (DFI). This state agency is responsible for ensuring that mortgage lenders and loan originators operate in compliance with both state and federal laws, providing consumer protection and promoting the integrity of the mortgage industry. The DFI conducts licensing, monitors compliance, and takes enforcement actions when necessary.

In contrast, the other entities mentioned, such as the Department of Housing and Urban Development, largely focus on broader housing policies and federal programs, rather than the specific licensing and regulation of individual mortgage professionals in the state. The State Legislature creates laws and regulations but does not directly oversee licensing. The Federal Trade Commission primarily handles consumer protection and competition issues on a broader scale, not specifically targeting mortgage professional regulation at the state level.