9-A §13-120. Effective date
§13-120. Effective date This Article takes effect January 1, 2011. [PL 2009, c. 497, §1 (AMD).] SECTION HISTORY PL 2009, c. 362, Pt. B, §1 (NEW). PL 2009, c. 497, §1 (AMD).
9-A §13-101. Short title
§13-101. Short title This Article may be known and cited as “the Maine Secure and Fair Enforcement for Mortgage Licensing Act of 2009.” [PL 2009, c. 362, Pt. B, §1 (NEW).] SECTION HISTORY PL 2009, c. 362, Pt. B, §1 (NEW).
9-A §13-102. Definitions
§13-102. Definitions As used in this Article, unless the context otherwise indicates, the following terms have the following meanings. [PL 2009, c. 362, Pt. B, §1 (NEW).] 1. Clerical or support duties. “Clerical or support duties” may include subsequent to the receipt of an application: A. The receipt, collection, distribution and analysis of […]
9-A §13-103. License and registration required
§13-103. License and registration required 1. Requirement. An individual, unless specifically exempted from this Article under subsection 2, may not engage in the business of a mortgage loan originator without obtaining and maintaining annually a license under this Article. Each licensed mortgage loan originator must register with and maintain a valid unique identifier issued by […]
9-A §13-104. State license and registration application and issuance
§13-104. State license and registration application and issuance 1. Application form. An applicant for a license as a mortgage loan originator shall apply using a form prescribed by the administrator. The form must contain content as set forth by rule, instruction or procedure of the administrator and may be changed or updated as necessary by […]
9-A §13-105. Issuance of license
§13-105. Issuance of license The administrator may not issue an applicant a mortgage loan originator license unless the applicant meets the following requirements. [PL 2009, c. 362, Pt. B, §1 (NEW).] 1. No license revocation. The applicant has never had a mortgage loan originator license revoked in any governmental jurisdiction. [PL 2009, c. […]
9-A §13-106. Prelicensing education for mortgage loan originators
§13-106. Prelicensing education for mortgage loan originators 1. Minimum education requirements. In order to meet the prelicensing education requirement set forth in section 13‑105, subsection 4, a person must complete at least 20 hours of education approved in accordance with subsection 2. A. [PL 2013, c. 466, §8 (RP).] B. [PL 2013, c. 466, […]
9-A §13-107. Testing of mortgage loan originators
§13-107. Testing of mortgage loan originators 1. Written test. In order to meet the written test requirement required under section 13‑105, subsection 5, an individual must pass, in accordance with the standards established under this section, a written test developed by the nationwide mortgage licensing system and registry and administered by a test provider approved […]
9-A §13-108. Standards for license renewal
§13-108. Standards for license renewal 1. Minimum standards. The minimum standards for license renewal for mortgage loan originators include the following: A. The mortgage loan originator continues to meet the minimum standards for license issuance under section 13‑105, subsections 1 to 5; [PL 2009, c. 362, Pt. B, §1 (NEW).] B. The mortgage […]
9-A §13-109. Continuing education for mortgage loan originators
§13-109. Continuing education for mortgage loan originators 1. Requirement. In order to meet the annual continuing education requirements set forth in section 13‑108, subsection 1, paragraph B, a licensed mortgage loan originator must complete at least 8 hours of education approved in accordance with subsection 2. A. [PL 2013, c. 466, §10 (RP).] B. […]