Section 40-23-133 – Unique Identifier; Rulemaking.
40-23-133. Unique identifier; rulemaking. The unique identifier of any person originating a residential mortgage loan shall be clearly shown on all residential mortgage loan applications forms, solicitations or advertisements, including business cards or websites and any other documents as established by rule of the commissioner.
Section 40-24-101 – Definitions.
40-24-101. Definitions. (a) As used in this act, unless the context requires otherwise: (i) “Improper means” includes theft, bribery, misrepresentation, breach or inducement of a breach of duty to maintain secrecy or espionage through electronic or other means; (ii) “Misappropriation” means: (A) Acquisition of a trade secret of another by a person who knows or […]
Section 40-23-123 – Hearings.
40-23-123. Hearings. Except as otherwise provided in W.S. 40-23-103(a)(vii), 40-23-108(c) and 40-23-109, the commissioner shall not suspend or revoke a license, issue an order to cease and desist or assess a civil penalty without notice and an opportunity to be heard.
Section 40-23-124 – Loan Originator Licensing; Registration; Rulemaking.
40-23-124. Loan originator licensing; registration; rulemaking. (a) An individual, unless specifically exempted under subsection (c) of this section, shall not engage in the business of a mortgage loan originator for any dwelling located in Wyoming without first obtaining and maintaining annually a license in accordance with this act. Each licensed mortgage loan originator shall register […]
Section 40-23-125 – Loan Originator Application; Processing.
40-23-125. Loan originator application; processing. (a) Applicants for a mortgage loan originator license shall apply in a form prescribed by the commissioner. Each application form shall contain content as set forth by rule of the commissioner and may be changed or updated as necessary by the commissioner in order to carry out the purposes of […]
Section 40-23-126 – Issuance of Loan Originator License.
40-23-126. Issuance of loan originator license. (a) The commissioner shall not issue a mortgage loan originator license unless the commissioner makes at a minimum the following findings: (i) The applicant has never had a mortgage loan originator license revoked in any governmental jurisdiction, except that a subsequent formal vacation of such revocation shall not be […]
Section 40-23-127 – Prelicensing and Relicensing Education of Loan Originators.
40-23-127. Prelicensing and relicensing education of loan originators. (a) In order to meet the prelicensing education requirement referred to in W.S. 40-23-126(a)(iv), a person shall complete at least twenty (20) hours of education approved in accordance with subsection (b) of this section, which shall include at least: (i) Three (3) hours of federal law and […]
Section 40-23-128 – Testing of Mortgage Loan Originators.
40-23-128. Testing of mortgage loan originators. (a) In order to meet the written test requirement under W.S. 40-23-126(a)(v), an individual shall pass, in accordance with the standards established under this section, a qualified written test developed by the registry and administered by a test provider approved by the registry. (b) A written test shall not […]
Section 40-23-119 – Orders to Cease and Desist.
40-23-119. Orders to cease and desist. (a) If the commissioner determines that a violation of this act or of a rule adopted or an order issued under this act by a licensee is likely to cause immediate and irreparable harm to the licensee, its customers or the public as a result of the violation or […]
Section 40-23-120 – Consent Orders.
40-23-120. Consent orders. The commissioner may enter into a consent order at any time with a person to resolve a matter arising under this act. A consent order shall be signed by the person to whom it is issued or by the person’s authorized representative and shall indicate agreement with the terms contained in the […]