6.2-1707 - (Effective October 1, 2010) Other conditions for mortgage loan originator licensing. - Virginia Statutes

§ 6.2-1707. (Effective October 1, 2010) Other conditions for mortgage loanoriginator licensing.

In addition to the findings required by § 6.2-1706, the Commission shall notissue a mortgage loan originator license unless it finds that:

1. The applicant has never had a mortgage loan originator license revoked byany governmental authority;

2. The applicant has not been convicted of, or pled guilty or nolo contendereto, a felony in a domestic, foreign, or military court (i) during theseven-year period preceding the application for licensing and registration;or (ii) at any time preceding such date of application if such felonyinvolved an act of fraud, dishonesty, breach of trust, or money laundering;

3. The applicant has completed the pre-licensing education requirementdescribed in § 6.2-1708;

4. The applicant has passed a written test that meets the test requirementdescribed in § 6.2-1709; and

5. The applicant has become registered through, and obtained a uniqueidentifier from, the Registry.

(2009, cc. 273, 453, § 6.1-431.8; 2010, c. 794.)