Chapter 9   MORTGAGE BROKERS, MORTGAGE BANKERS, COMMERICAL MORTGAGE BANKERS AND LOAN ORIGINATORS

Article 1                      Mortgage Brokers

6-901                           Definitions

6-902                           Exemptions

6-903                           Licensing of mortgage brokers required; qualifications; application; bond; fees; renewal

6-904                           Issuance of license; renewal; inactive status; branch office license; application; fee

6-905                           Denial, suspension or revocation of licenses

6-906                           Required accounting practices and records; escrow of monies; disclosure

6-907                           Required disclosure to investors

6-908                           Testing committee; testing of applicants; approval by superintendent; definition

6-909                           Prohibited acts

6-910                           Noncompliance not to affect validity of loan

6-911                           Active military duty; compensation

6-912                           Certificate of exemption

6-913                           Conversion to commercial mortgage broker license

Article 2                      Mortgage Bankers

6-941                           Definitions

6-942                           Exemptions

6-943                           Licensing of mortgage bankers required; qualifications; application; bond; fees; renewal

6-944                           Issuance of license; renewal; branch office license; application; fee

6-945                           Denial, suspension or revocation of licenses

6-946                           Required accounting practices and records; refundable deposits; periodic impoundment payments; disclosure

6-947                           Prohibited acts

6-948                           Noncompliance not to affect validity of loan

6-949                           Conversion to mortgage broker license

Article 3                      Commercial Mortgage Bankers

6-971                           Definitions

6-972                           Exemptions

6-973                           Licensing commercial mortgage bankers required; qualifications

6-974                           Application for license; issuance or denial; fees

6-975                           Bond or other security

6-976                           Responsible individual; employees

6-977                           Displaying and using license number

6-978                           Consent of superintendent for transferring, assigning or acquiring control of licensee; definition

6-979                           Principal place of business; branch office license; change of address

6-980                           Annual renewal; expiration on failure to renew

6-981                           Inactive status

6-982                           Denial, suspension or revocation of licenses

6-983                           Required accounting practices and records; escrow of monies; disclosure

6-984                           Prohibited acts

6-985                           Noncompliance not to affect validity of loan

Article 4                      Loan Originators

6-991                           Definitions

6-991.01                      Exemptions

6-991.02                      Prohibited acts

6-991.03                      Licensing; renewal; qualifications; application; fees

6-991.04                      Issuance of license; notice from employing mortgage broker, mortgage banker or consumer lender or registered exempt person; renewal; inactive

status; address change; fees

6-991.05                      Denial, suspension or revocation of licenses

6-991.07                      Examination; fee; definition

6-991.08                      Reasonable efforts to secure advantageous loan for borrower

6-991.09                      Mortgage recovery fund; liability limits

6-991.10                      Payments to the mortgage recovery fund

6-991.11                      Statute of limitations; service of summons; application for payment; insufficient monies; definition

6-991.12                      Notice of claim to judgment debtor; response

6-991.13                      Correction of deficiencies in the application

6-991.14                      Investigation and discovery

6-991.15                      Final decision and order on claim; notice

6-991.16                      Claimant's right to appeal denial of claim; service of notice of appeal; response; failure to file response

6-991.17                      Superintendent's standing in court

6-991.18                      Subrogation of rights; collection

6-991.19                      Waiver of rights

6-991.20                      Effect of article on disciplinary action

6-991.21                      Financial services fund; use of fund

6-991.22                      Noncompliance not to affect validity of loan

Laws, Rules & Substantive Policy Statement