17:11C-67 - Regulations relative to license - New Jersey Statutes

17:11C-67  Regulations relative to license.
 
17. a. (1) The license for a residential mortgage lender or residential mortgage broker, including a qualified individual licensee, shall state the name of the business licensee and the licensee's place or places of business, as applicable, and shall contain any other information as the commissioner may require pursuant to regulation.  A license shall not be issued in a name containing any words including "insured," "bonded," "guaranteed," "secured" and the like.  Notwithstanding the provisions of section 18 of P.L.1948, c.67 (C.17:9A-18) or any other law to the contrary, a licensed residential mortgage lender or broker may use the terms "mortgage lender" or "mortgage broker," respectively, as part of the licensee's name; a licensed residential mortgage lender may also use the term "mortgage banker."

(2)The license of the business licensee shall be posted conspicuously in the place or places of business of that licensee, and the license of any qualified individual licensee shall be maintained by that licensee and available for public inspection at the licensee's place or places of business.

(3)A licensee or any other person shall not photocopy or otherwise reproduce the license except for legitimate business purposes.

(4)Licenses issued to a business licensee pursuant to this act shall not be transferable or assignable, other than as provided by section 19 of this act.

(5)No licensee shall change the name or address of the licensee's place or places of business without notice to the commissioner. 

b.(1) The license for a mortgage loan originator shall state the name of the originator's employing business licensee and the licensee's place or places of business, as applicable, and shall contain any other information as the commissioner may see fit to require.

(2)The license shall be maintained by the licensee and available for public inspection at the licensee's place or places of business.

(3)A licensee or any other person shall not photocopy or otherwise reproduce the license except for legitimate business purposes.

(4)No licensee shall change the name or address of the licensee's place or places of business without notice to the commissioner.

L.2009, c.53, s.17.