Sec. 36a-496. (Formerly Sec. 36-440k). Applications and referrals from unlicensed mortgage brokers or loan originators. - Connecticut Statutes

      Sec. 36a-496. (Formerly Sec. 36-440k). Applications and referrals from unlicensed mortgage brokers or loan originators. No person engaged in the business of making mortgage loans in this state, whether licensed in accordance with the provisions of sections 36a-485 to 36a-498a, inclusive, or exempt from licensing, shall accept applications or referral of applicants from, or pay a fee to, any mortgage broker or mortgage loan originator who is required to be licensed under said sections but was not, as of the time of the performance of such mortgage broker's or mortgage loan originator's services in connection with loans made or to be made by the mortgage lender or mortgage correspondent lender, licensed to act as such by the commissioner, if the mortgage lender or mortgage correspondent lender has actual knowledge that the mortgage broker or mortgage loan originator was not licensed by the commissioner.

      (P.A. 91-306, S. 2; P.A. 02-111, S. 12; P.A. 04-69, S. 9; P.A. 07-156, S. 13; P.A. 08-176, S. 31, 51.)

      History: Sec. 36-440k transferred to Sec. 36a-496 in 1995; P.A. 02-111 extended prohibition to include accepting applications or referrals of applications from, or payment of fees to, unregistered originators and replaced references to "mortgage broker" with references to "first mortgage broker"; P.A. 04-69 substituted "36a-498a" for "36a-498"; P.A. 07-156 deleted references to "registered", effective September 30, 2008; P.A. 08-176 changed effective date of P.A. 07-156, S. 13, from September 30, 2008, to July 1, 2008, added language re person not licensed at the time of performance of services, added references to "mortgage correspondent lender" and made conforming changes, effective July 1, 2008.