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PARRIS N. GLENDENING, Governor
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S.B. 872
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11-517.
(a) Subject to the hearing provisions of § 11-518 of this subtitle, the
Commissioner may suspend or revoke the license of any licensee if the licensee or any
owner, director, officer, member, partner, stockholder, employee, or agent of the
licensee:
(1) Makes any material misstatement in an application for a license;
(2) [Has been convicted of any crime of moral turpitude] IS CONVICTED
UNDER THE LAWS OF THE UNITED STATES OR OF ANY STATE OF:
(I) A FELONY; OR
(II) A MISDEMEANOR THAT IS DIRECTLY RELATED TO THE FITNESS
AND QUALIFICATION OF THE PERSON TO ENGAGE IN THE MORTGAGE LENDING
BUSINESS;
(3) In connection with any mortgage loan or loan application transaction:
(i) Commits any fraud;
(ii) Engages in any illegal or dishonest activities; or
(iii) Misrepresents or fails to disclose any material facts to anyone
entitled to that information;
(4) Violates any provision of this subtitle or any rule or regulation
adopted under it or any other law regulating mortgage loan lending in the State; or
(5) Otherwise demonstrates unworthiness, bad faith, dishonesty, or any
other quality that indicates that the business of the licensee has not been or will not
be conducted honestly, fairly, equitably, and efficiently.
(B) IN DETERMINING WHETHER THE LICENSE OF A LICENSEE SHOULD BE
SUSPENDED OR REVOKED FOR A REASON DESCRIBED IN SUBSECTION (A)(2) OF THIS
SECTION, THE COMMISSIONER SHALL CONSIDER;
(1) THE NATURE OF THE CRIME;
(2) THE RELATIONSHIP OF THE CRIME TO THE ACTIVITIES AUTHORIZED
BY THE LICENSE;
(3) WITH RESPECT TO A FELONY, THE RELEVANCE OF THE CONVICTION
TO THE FITNESS AND QUALIFICATION OF THE LICENSEE TO ENGAGE IN THE
MORTGAGE LENDING BUSINESS;
(4) THE LENGTH OF TIME SINCE THE CONVICTION; AND
(5) THE BEHAVIOR AND ACTIVITIES OF THE LICENSEE SINCE THE
CONVICTION.
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- 4203 -
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