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. 06.60.410. Censure, suspension, or bar.
(a) In addition to any other remedy provided under this chapter, the department may, by order after appropriate notice and opportunity for a hearing, censure a person, suspend the license of a person for a period not to exceed 12 months, or bar a person from a position of employment, management, or control of a […]
Sec. 06.60.420. Civil penalty for violations.
(a) Notwithstanding AS 06.01.035, a person who violates a provision of this chapter, or a regulation adopted or an order issued under this chapter, is liable for a civil penalty not to exceed $10,000 for each violation. (b) The remedies provided by this section and by other sections of this chapter are not exclusive and […]
Sec. 06.60.430. Additional enforcement provisions, actions, and rights.
(a) The department may treat a licensee as a financial institution under AS 06.01 when applying the enforcement provisions of AS 06.01. (b) This chapter may not be interpreted to prevent the attorney general or any other person from exercising the rights provided under AS 45.50.471 – 45.50.561. (c) If the department determines that a […]
Sec. 06.60.500. Mortgage loan originator surety fund.
The mortgage loan originator surety fund is established as a separate account in the general fund. The purpose of the fund is to pay fund claims against mortgage loan originator licensees.
Sec. 06.60.510. Composition of fund.
The fund consists of appropriations of payments made by mortgage loan originator licensees under AS 06.60.550, filing fees for fund claims retained under AS 06.60.620, income earned on the investment of the money in the fund, and money deposited in the fund by the department under AS 06.60.740.