Sec. 403. (1) A mortgage license issued by the department must be renewed through the NMLSR not later than December 31 of each calendar year. The minimum standards for license renewal for a creditor include the following: (a) The creditor has continued to meet the surety bond requirement under section 402.3 of this chapter. (b) […]
Sec. 403. (1) A mortgage license issued by the department must be renewed through the NMLSR not later than December 31 of each calendar year. The minimum standards for license renewal for a creditor include the following: (a) The creditor has continued to meet the surety bond requirement under section 402.3 of this chapter. (b) […]
Sec. 404. (1) The department may issue to a person licensed as a creditor to engage in first lien mortgage transactions an order to show cause why the person’s license should not be revoked or suspended for a period determined by the department. (2) An order issued under subsection (1) must: (a) include: (i) a […]
Sec. 404. (1) The department may issue to a person licensed as a creditor to engage in first lien mortgage transactions an order to show cause why the person’s license should not be revoked or suspended for a period determined by the department. (2) An order issued under subsection (1) must: (a) include: (i) a […]
Sec. 404.1. (1) If the director determines that a current or former director, an officer, or a manager of a creditor: (a) has committed a violation of a statute, a rule, a final cease and desist order, any condition imposed in writing by the director in connection with the granting of any application or other […]
Sec. 404.1. (1) If the director determines that a current or former director, an officer, or a manager of a creditor: (a) has committed a violation of a statute, a rule, a final cease and desist order, any condition imposed in writing by the director in connection with the granting of any application or other […]
Sec. 404.2. (1) A notice issued under this chapter must: (a) be in writing; (b) contain a statement of the facts constituting the alleged practice, violation, or breach; (c) state the facts alleged in support of the violation, practice, or breach; (d) state the director’s intention to enter an order under section 404.4(1) of this […]
Sec. 404.2. (1) A notice issued under this chapter must: (a) be in writing; (b) contain a statement of the facts constituting the alleged practice, violation, or breach; (c) state the facts alleged in support of the violation, practice, or breach; (d) state the director’s intention to enter an order under section 404.4(1) of this […]
Sec. 404.3. If the director enters into a consent to a final order under section 404.4 of this chapter with a creditor, a director, an officer, or a manager, the director is not required to issue and serve a notice of charges upon the creditor, director, officer, or manager under section 404.1 of this chapter. […]
Sec. 404.3. If the director enters into a consent to a final order under section 404.4 of this chapter with a creditor, a director, an officer, or a manager, the director is not required to issue and serve a notice of charges upon the creditor, director, officer, or manager under section 404.1 of this chapter. […]
Sec. 404.4. (1) If, after a hearing described in section 404.2(2) of this chapter, the department finds that the conditions specified in section 404.1 of this chapter have been established, the department may issue a final order. If a hearing is not requested within the time specified in section 404.2(2) of this chapter, the director […]
Sec. 404.4. (1) If, after a hearing described in section 404.2(2) of this chapter, the department finds that the conditions specified in section 404.1 of this chapter have been established, the department may issue a final order. If a hearing is not requested within the time specified in section 404.2(2) of this chapter, the director […]
Sec. 404.5. (1) A final order issued under this chapter is effective on the eleventh day after service of the order. However, a final order issued upon consent under section 404.3 of this chapter is effective at the time specified in the order. (2) A final order remains effective and enforceable as provided in the […]
Sec. 404.5. (1) A final order issued under this chapter is effective on the eleventh day after service of the order. However, a final order issued upon consent under section 404.3 of this chapter is effective at the time specified in the order. (2) A final order remains effective and enforceable as provided in the […]
Sec. 404.6. (1) The director or the department, as appropriate, shall consider the following factors in determining the amount of a civil penalty that should be assessed against a director or an officer in a final order issued under section 404.4(3)(c) of this chapter: (a) The appropriateness of the civil penalty with respect to the […]
Sec. 404.6. (1) The director or the department, as appropriate, shall consider the following factors in determining the amount of a civil penalty that should be assessed against a director or an officer in a final order issued under section 404.4(3)(c) of this chapter: (a) The appropriateness of the civil penalty with respect to the […]
Sec. 404.7. The director may enforce any of the following by applying for appropriate relief to a court having jurisdiction: (a) An order issued under this chapter. (b) A written agreement entered into by the department or the director and any director, officer, or employee of a creditor. (c) Any condition imposed in writing by […]
Sec. 404.7. The director may enforce any of the following by applying for appropriate relief to a court having jurisdiction: (a) An order issued under this chapter. (b) A written agreement entered into by the department or the director and any director, officer, or employee of a creditor. (c) Any condition imposed in writing by […]
Sec. 405. (1) Every licensee shall maintain records in a manner that will enable the department to determine whether the licensee is complying with this article. The record keeping system of a licensee is sufficient if the licensee makes the required information reasonably available. The department shall determine the sufficiency of the records and whether […]
Sec. 405. (1) Every licensee shall maintain records in a manner that will enable the department to determine whether the licensee is complying with this article. The record keeping system of a licensee is sufficient if the licensee makes the required information reasonably available. The department shall determine the sufficiency of the records and whether […]
