Sec. 06.60.740. Right to subrogation.
When the department has paid to a claimant the sum awarded under AS 06.60.680 or 06.60.700 and any amount due under AS 06.60.720, the department shall be subrogated to all of the rights of the claimant to the amount paid, and the claimant shall assign all right, title, and interest in that portion of the […]
Sec. 06.60.745. Reimbursement for expenses.
If the department pays all or a portion of a fund claim against a mortgage loan originator licensee under AS 06.60.680 or 06.60.700, the department may recover from the mortgage loan originator licensee, in addition to the payment of the fund claim, the expenses incurred by the department to process and otherwise handle the fund […]
Sec. 06.60.610. Election to use small claims court.
(a) Within 30 days after receiving a copy of a fund claim under AS 06.60.600, a mortgage loan originator licensee against whom a claim is made may elect to defend the fund claim as a small claims action in district court under District Court Rules of Civil Procedure if the claim does not exceed the […]
Sec. 06.60.750. Disciplinary action against a mortgage loan originator licensee.
Repayment in full of all obligations to the fund does not nullify or modify the effect of disciplinary proceedings brought against a mortgage loan originator licensee under this chapter.
Sec. 06.60.620. Filing fee.
(a) A person who files a fund claim under AS 06.60.570 shall pay the department a filing fee of $250 when the person files the fund claim. (b) The department shall refund the filing fee required under this section if the (1) department makes an award to the claimant; (2) fund claim is dismissed under […]
Sec. 06.60.800. Authorization of program administration fee.
(a) The department may collect a program administration fee of $10 for each mortgage loan transaction to reimburse the state for the cost of administering this chapter. (b) The program administration fee shall be paid by a borrower who is providing real property as security for the mortgage loan, except that, if the regulations of […]
Sec. 06.60.630. Department contracts.
When the department receives a fund claim, the department may contract under AS 36.30 (State Procurement Code) with an investigator, an accountant, an attorney, or another person necessary for the department to process the fund claim. A contract may cover more than one fund claim.
Sec. 06.60.850. Publication of disciplinary action.
The department may release, through the Internet, the registry, or other publication, notice of disciplinary action taken by the department against a person required to be licensed under this chapter.
Sec. 06.60.640. Defense of claim.
When the department receives a fund claim, the department shall allow each mortgage loan originator licensee against whom the claim is made an opportunity to file with the department, within seven days after receipt of notification of the fund claim under AS 06.60.600, a written statement in opposition to the fund claim and a request […]
Sec. 06.60.860. Authority of department.
The department may make a ruling, demand, or finding that the department determines is necessary for the proper conduct of a licensee’s business regulated by this chapter or for the enforcement of this chapter, including an order for the payment of restitution. The ruling, demand, or finding must be consistent with this chapter.