6.1-431.5 - (Repealed effective October 1, 2010) Mortgage loan originator background checks. - Virginia Statutes

§ 6.1-431.5. (Repealed effective October 1, 2010) Mortgage loan originatorbackground checks.

A. In connection with an application for licensing as a mortgage loanoriginator, the applicant shall furnish to the Registry informationconcerning the applicant's identity, including fingerprints for submission tothe Federal Bureau of Investigation or any federal or state governmentalagency or entity authorized to receive such information for a state,national, and international criminal history background check as prescribedby the Commission.

B. The applicant shall also submit personal history and experience in a formprescribed by the Registry, including submission of authorization for theRegistry and the Commission to obtain (i) an independent credit report from aconsumer reporting agency described in § 603(p) of the Fair Credit ReportingAct (15 U.S.C. § 1681 et seq.), and (ii) information related to anyadministrative, civil, or criminal findings by any governmental jurisdiction.

For the purposes of this section and in order to reduce the points of contactthat the Federal Bureau of Investigation may have to maintain, the Commissionmay use the Registry as a channeling agent for requesting information fromand distributing information to the Department of Justice or any governmentalagency, or for requesting and distributing information to and from any source.

(2009, cc. 273, 453.)