§ 6.2-1702. Application for license; form; content; fee
A. An application for a license under this chapter shall be on a form provided by the Registry. B. The application shall set forth: 1. The name and residential address of the applicant; 2. The address of the applicant’s employer or the address where the applicant will act as a mortgage loan originator, as applicable; […]
§ 6.2-1703. Bond required
A. The application for a license shall be accompanied by a bond to be filed with the Commission with corporate surety authorized to execute such bond in the Commonwealth, the form of which shall be approved by the Commission. 1. If the applicant is not an employee or exclusive agent of a person licensed or […]
§ 6.2-1704. Mortgage loan originator background checks
A. In connection with an application for licensing as a mortgage loan originator, the applicant shall furnish to the Registry information concerning the applicant’s identity, including fingerprints for submission to the Federal Bureau of Investigation or any federal or state governmental agency or entity authorized to receive such information for a state, national, and international […]
§ 6.2-1700. Definitions
As used in this chapter: “Act” means the federal Secure and Fair Enforcement for Mortgage Licensing Act, Title V (§ 1501 et seq.) of the Housing and Economic Recovery Act of 2008, P.L. 110-289. “Administrative or clerical tasks” means the receipt, collection, and distribution of information common for the processing or underwriting of a residential […]
§ 6.2-1701. License requirement
A. Except as otherwise provided in § 6.2-1701.3, no individual shall engage in the business of a mortgage loan originator unless such individual has first obtained and maintains annually a license under this chapter. B. The following shall be exempt from licensing and other provisions of this chapter: 1. Any individual engaged solely as a […]
§ 6.2-1701.1. Bona fide nonprofit organizations
A. The Commission shall prescribe by regulation (i) the procedures and criteria that it will use to determine whether an organization is a bona fide nonprofit organization and (ii) the information and fees that must be submitted by an organization to the Commission in connection with a request for a determination under this section. In […]