RS 6:1086 – Licensure requirement A. Except as otherwise provided in Subsection B of this Section, beginning on July 31, 2009, and unless otherwise exempt pursuant to this Chapter, no person shall engage in any residential mortgage lending activity in this state without first obtaining and maintaining annually the following: (1) A license and registration […]
RS 6:1087 – Exemptions; annual registration statement; fees A. Any person authorized to engage in business as a credit union under the laws of the United States, any state or territory of the United States, or the District of Columbia, and any subsidiary of such person, and the employees of such person, shall be exempt […]
RS 6:1088 – Application for licensure; surety bond A. An application for a license under this Chapter shall be made under oath and on a form prescribed by the commissioner. The commissioner may grant restricted or conditional licenses. Each license shall expire on December thirty-first of the year in which the license was issued. B. […]
RS 6:1088.1 – Licensing system; authorization; fees; required use A. Consistent with both the public interest and the purposes of this Chapter, the commissioner shall have the authority to take all action regarding the licensing system, in his discretion as he deems necessary and appropriate, including but not limited to all of the following: (1) […]
RS 6:1088.2 – Application for licensure; application and renewal fees A. The application shall be accompanied by the following nonrefundable fees as determined by and paid as directed by the commissioner: (1) In the case of an application for a license to act as a mortgage lender, mortgage broker, mortgage servicer, or combination of any, […]
RS 6:1088.3 – Application for renewal of license; restriction; late renewal fees A.(1) Each person licensed as a mortgage broker, mortgage lender, or mortgage servicer shall submit an annual license renewal application on or before December thirty-first of each year in a manner and form prescribed by the commissioner. (2) Each mortgage loan originator who […]
RS 6:1088.4 – Information reporting Notwithstanding any other provision of law to the contrary, except for R.S. 6:103(B)(16), R.S. 6:103(J), and R.S. 6:1088.1, the commissioner shall furnish to the NMLS&R the following: (1) Information as required by the P.L. 110-289, as amended, including but not limited to, the employment history of and publicly adjudicated disciplinary […]
RS 6:1089 – Name or location changes and closures; fees A.(1) No residential mortgage lender, originator, or servicer shall conduct the residential mortgage lending activities provided for in this Chapter under any name other than the one stated in its current record of information in the licensing system. (2) A residential mortgage lender or servicer […]
RS 6:1090 – Restrictions A. No license issued pursuant to this Chapter shall be sold or otherwise transferred. B.(1) No person shall acquire or control a license to make, service, or broker residential mortgage loans through the acquisition or control of fifty-one percent or more of the ownership interest in a licensee without first having […]
RS 6:1091 – Recordkeeping and retention; examinations; investigation of complaints; reports of conditions A.(1) Each person required to be licensed under this Chapter shall maintain in its offices such books, records, and accounts of its residential mortgage lending activities as the commissioner may reasonably require in order to determine whether such person is complying with […]
RS 6:1092 – Suspension and revocation of licensure; commissioner’s interpretations; prohibitions A. After notice and an opportunity to be heard as provided in the Administrative Procedure Act, the commissioner may suspend or revoke the license of any person licensed pursuant to this Chapter who: (1) Violates any of the provisions of this Chapter or any […]
RS 6:1092.1 – Costs of appeal Subject to the provisions of R.S. 13:4521 and 4581, all estimated costs of appeal, including those involved in the preparation of the administrative record of appeal, taken by a person in connection with an adverse ruling of an administrative law judge in connection with a hearing held pursuant to […]
RS 6:1092.2 – Validity of judgment; execution Any final and definitive decision of an administrative law judge or, in the case such decision is appealed, a final judgment of an appellate court, issued in connection with any hearing held pursuant to this Chapter and the Administrative Procedure Act shall be considered a valid and final […]
RS 6:1093 – Repealed by Acts 2010, No. 743, §22B, eff. July 1, 2010.
RS 6:1094 – Professional education required for licensure; continuing education A.(1) In order to meet the pre-licensing education requirements pursuant to R.S. 6:1088, a person shall complete at least twenty hours of education approved in accordance with this Section, which shall include all of the following minimum requirements: (a) Three hours of federal law and […]
RS 6:1094.1 – Testing of loan originators A. In order to meet the written test requirement pursuant to R.S. 6:1088, an individual shall pass, in accordance with the standards established under this Section, a qualified written test developed by the Nationwide Mortgage Licensing System and Registry and administered by a test provider approved by the […]
