3 AAC 14.062 - Sponsorship
(a) A mortgage loan originator license will
not be granted to an applicant, unless a mortgage licensee or a registered
depository institution sponsors the mortgage loan originator in the
registry.
(b) The sponsorship of a
mortgage loan originator licensee by a mortgage licensee or a registered
depository institution is not effective until it is approved by the department
in the registry.
(c) To operate as
a mortgage loan originator licensee in the state, an individual must maintain a
sponsorship by a mortgage licensee or a registered depository institution in
the registry approved by the department.
(d) A mortgage loan originator licensee may
be sponsored by only one mortgage licensee or one registered depository
institution under
AS
06.60.159.
Notes
Authority:AS 06.60.012
AS 06.60.155
AS 06.60.159
AS 06.60.910
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