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S.B. 660
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VETOES
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(B) THE COMMISSIONER MAY DENY AN APPLICATION FOR A LICENSE FILED
BY AN INDIVIDUAL WHO HAS COMMITTED AN ACT THAT WOULD SERVE AS A
SUFFICIENT GROUND FOR SUSPENSION OR REVOCATION OF A LICENSE UNDER THIS
SUBTITLE OR A MORTGAGE LENDER LICENSE UNDER SUBTITLE 5 OF THIS TITLE.
(C) THE COMMISSIONER MAY NOT DENY AN APPLICATION BASED SOLELY ON
THE APPLICANT'S FINANCIAL CONDITION, CREDIT HISTORY, OR NET WORTH, OR THE
INVOLVEMENT OF THE APPLICANT IN A BANKRUPTCY PROCEEDING UNDER TITLE 11
OF THE UNITED STATES CODE.
11-606.
(A) (1) TO APPLY FOR A LICENSE, AN APPLICANT SHALL COMPLETE, SIGN,
AND SUBMIT TO THE COMMISSIONER AN APPLICATION MADE UNDER OATH ON THE
FORM THAT THE COMMISSIONER REQUIRES.
(2) THE APPLICANT SHALL COMPLY WITH ALL CONDITIONS AND
PROVISIONS OF THE APPLICATION FOR A LICENSE.
(3) THE APPLICATION SHALL INCLUDE:
(I) THE APPLICANT'S NAME, SOCIAL SECURITY NUMBER, BUSINESS
ADDRESS AND TELEPHONE NUMBER, RESIDENCE ADDRESS, RESIDENCE TELEPHONE
NUMBER, AND ELECTRONIC MAIL ADDRESS;
(II) THE BUSINESS NAME, BUSINESS ADDRESS, AND TELEPHONE
NUMBER OF THE APPLICANT'S EMPLOYER OR PROSPECTIVE EMPLOYER;
(III) THE APPLICANT'S RESUME OR WORK EXPERIENCE, INCLUDING
THE NAMES AND ADDRESSES OF PREVIOUS EMPLOYERS AND A DESCRIPTION OF
EACH JOB OR POSITION HELD BY THE APPLICANT WITH PREVIOUS EMPLOYERS;
(IV) A WRITTEN STATEMENT DISCLOSING BY THE APPLICANT'S
PRESENT OR PROSPECTIVE EMPLOYER THAT THE APPLICANT HAS BEEN APPROVED
FOR EMPLOYMENT AS A MORTGAGE ORIGINATOR;
(V) A WRITTEN STATEMENT DISCLOSING WHETHER THE
APPLICANT HAS BEEN CONVICTED OF, PLEADED GUILTY TO, OR PLEADED NOLO
CONTENDERE TO A FELONY OR MISDEMEANOR, EXCEPT MINOR TRAFFIC OFFENSES,
WITHIN THE PRECEDING 10 YEARS, A DESCRIPTION OF THE NATURE AND
DISPOSITION OF ANY DISCLOSED CRIMINAL PROCEEDING, AND THE NAME OF THE
COURT WHERE THE PROCEEDING TOOK PLACE; AND
(VI) A WRITTEN STATEMENT DISCLOSING WHETHER THE
COMMISSIONER, OR ANY OTHER REGULATORY AUTHORITY IN THE STATE OR ANY
OTHER JURISDICTION THAT GOVERNS THE MORTGAGE LENDING OR MORTGAGE
LOAN ORIGINATION BUSINESS, WITH RESPECT TO THE APPLICANT OR AN ENTITY IN
WHICH THE APPLICANT HAS OR HAD ANY OWNERSHIP INTEREST, HAS:
1. DENIED AN APPLICATION FOR A LICENSE;
2. REVOKED OR SUSPENDED A LICENSE; OR
- 3756 -
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