§ 6.2-1719. Civil penalties
The Commission may impose a civil penalty not exceeding $2,500 upon any individual required to be licensed under this chapter who it determines, in proceedings commenced in accordance with the Commission’s Rules, has violated any of the provisions of this chapter or any other law or regulation applicable to the licensee’s activities. For the purposes […]
§ 6.2-1720. Regulations; agreements between Commission and Registry
A. The Commission shall adopt such regulations as it deems appropriate to effect the purposes of this chapter. Before adopting any such regulations, the Commission shall give reasonable notice of their content and shall afford interested parties an opportunity to present evidence and be heard, in accordance with the Commission’s Rules. B. The Commission shall, […]
§ 6.2-1721. Cease and desist orders
A. If the Commission determines that any mortgage loan originator required to be licensed hereunder has violated any provision of this chapter or any regulation adopted pursuant thereto, the Commission may, upon 21 days’ notice in writing, order such person to cease and desist from such practices and to comply with the provisions of this […]
§ 6.2-1712. Repealed
Repealed by Acts 2011, c. 435, cl. 3, effective July 1, 2012.
§ 6.2-1712.1. Inactive mortgage loan originator licenses
A. Notwithstanding any other provision of this chapter, if the Commission finds that an individual has applied for a mortgage loan originator license and meets all applicable requirements for licensure except § 6.2-1703, then the Commission shall issue a mortgage loan originator license to the applicant. However, the license issued by the Commission shall be […]
§ 6.2-1713. Investigations; examinations
The Commission may, by its designated officers and employees, as often as it deems necessary, investigate and examine the business activities, premises, and records of any individual required to be licensed under this chapter insofar as they pertain to any activities for which a license is required by this chapter. In the course of such […]
§ 6.2-1714. Annual fees
A. In order to defray the costs of his examination, supervision, and regulation, every licensee shall pay an annual license renewal fee. The fee shall be $100 unless another amount is prescribed by the Commission. The renewal fee shall be paid by the licensee to the State Treasurer or through the Registry, as determined by […]
§ 6.2-1715. Advertising; use of a unique identifier
A. No individual required to be licensed under this chapter shall use or cause to be published any advertisement that: 1. Contains any false, misleading, or deceptive statement or representation; or 2. Except as otherwise provided by the Commission, identifies a licensee by any name other than the name set forth on the license issued […]
§ 6.2-1716. Suspension or revocation of license
The Commission may suspend or revoke any license issued under this chapter based upon: 1. Any ground sufficient for denial of the issuance of a license under this chapter; 2. Any violation of the provisions of this chapter or regulations adopted by the Commission pursuant thereto, or a violation of any other law or regulation […]
§ 6.2-1717. Filing of written report with Commissioner; events affecting a licensee
Within 15 days of becoming aware of the occurrence of any of the events listed below, a licensee shall file a written report with the Commissioner describing such event: 1. The institution of revocation or suspension proceedings against the licensee by any state or other governmental authority; 2. The denial of the opportunity to engage […]