§ 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 […]
§ 6.2-1701.2. Repealed
Repealed by Acts 2019, c. 740, cl. 2, effective July 1, 2019.
§ 6.2-1701.3. Temporary authority to act as a mortgage loan originator
A. An individual shall be deemed to have temporary authority to act as a mortgage loan originator in the Commonwealth to the extent authorized by, and subject to the terms and conditions prescribed in, § 1518 of the Act. B. A mortgage lender or mortgage broker that employs an individual who is deemed to have […]
§ 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 […]