(a) Payment of a fund claim may not exceed $15,000 for each claimant and $15,000 for each mortgage loan transaction regardless of the number of persons injured or the number of pieces of residential property involved in the mortgage loan transaction. (b) The maximum liability for fund claims against one mortgage loan originator licensee may […]
The rights granted to a claimant under AS 06.60.500 – 06.60.750 do not limit any other cause of action the claimant may have against a mortgage loan originator.
If the money appropriated to the department for payment under AS 06.60.520 – 06.60.750 is insufficient to satisfy an award under AS 06.60.680 for a fund claim, the department shall, when sufficient money has been appropriated to the department for the purpose, satisfy unpaid fund claims in the order the fund claims were originally filed, […]
A person who files a notice, statement, or other document under AS 06.60.500 – 06.60.750 that contains a material misstatement of fact is guilty of a class A misdemeanor.
When the department has paid to a claimant the sum awarded under AS 06.60.680 or 06.60.700 and any amount due under AS 06.60.720, the department shall be subrogated to all of the rights of the claimant to the amount paid, and the claimant shall assign all right, title, and interest in that portion of the […]
If the department pays all or a portion of a fund claim against a mortgage loan originator licensee under AS 06.60.680 or 06.60.700, the department may recover from the mortgage loan originator licensee, in addition to the payment of the fund claim, the expenses incurred by the department to process and otherwise handle the fund […]
Repayment in full of all obligations to the fund does not nullify or modify the effect of disciplinary proceedings brought against a mortgage loan originator licensee under this chapter.
