Sec. 06.60.013. Loan processors or underwriters.
(a) A loan processor or underwriter who is an independent contractor may not operate as a loan processor or underwriter unless the independent contractor loan processor or underwriter is licensed as a mortgage loan originator under this chapter. An independent contractor loan processor or underwriter licensed as a mortgage loan originator shall register with the […]
Sec. 06.55.701. Administrative proceedings.
All administrative proceedings under this chapter shall be conducted under AS 44.62 (Administrative Procedure Act), except that hearings shall be conducted by the office of administrative hearings (AS 44.64.010).
Sec. 06.60.014. Registered depository institutions.
(a) A depository institution may sponsor a mortgage loan originator under AS 06.60.012(b) if the depository institution is registered with the department under this section, has an exclusive written contract to sponsor a mortgage loan originator licensed under this chapter, is otherwise in compliance with this chapter, and satisfies the other requirements of this section. […]
Sec. 06.55.702. Hearings.
(a) Except as otherwise provided in AS 06.55.603 and 06.55.607 and in (b) of this section, the department may not suspend or revoke a money services license, place a money services licensee in receivership, issue an order to cease and desist, suspend or revoke the designation of an authorized delegate, or assess a civil penalty […]
Sec. 06.60.015. Exemptions.
(a) The following persons are exempt from the mortgage lender or mortgage broker licensing requirements of this chapter: (1) a depository institution; (2) a subsidiary that is (A) owned and controlled by a depository institution; and (B) regulated by a federal banking agency; (3) an institution regulated by the Farm Credit Administration; (4) a federal, […]
Sec. 06.55.703. Investigative powers.
(a) In its investigations under this chapter, the department may administer oaths or affirmations and, on its own motion or on the request of a party to a proceeding, may subpoena witnesses, compel the attendance of witnesses, take evidence, and require the production of material that is relevant to the investigation, including the existence, description, […]
Sec. 06.60.016. Registry.
(a) The department may participate in the registry and pay the fees required for participation in the registry. (b) The department (1) may establish relationships or contracts with the registry or other entities designated by the registry to collect and maintain records and process transaction fees or other fees related to licensees or other persons […]
Sec. 06.55.801. Uniformity of application and construction.
In applying and construing this chapter, consideration shall be given to the need to promote uniformity of the law with respect to its subject matter among states that enact it.
Sec. 06.60.020. Application for license.
(a) An application for a license under this chapter must (1) be on the form prescribed by the department and the registry; (2) contain complete information regarding the applicant; (3) include fingerprints of the applicant, as needed to conduct a background check; and (4) contain other information or supporting material that the department may require […]
Sec. 06.55.802. Exclusions.
This chapter does not apply to (1) the United States or a department, an agency, or an instrumentality of the United States; (2) money transmission by the United States Postal Service or by a contractor on behalf of the United States Postal Service; (3) a state, a municipality, a county, or another governmental agency or […]