[§454F-15]  Investigation and examination
authority.  (a)  In addition to any other authority under this chapter, the
commissioner shall have the authority to conduct investigations and
examinations.  The commissioner may access, receive, and use any books,
accounts, records, files, documents, information, or evidence, including:



(1)  Criminal, civil, and administrative history
information, including nonconviction data under chapter 853;



(2)  Personal history and experience information
including independent credit reports obtained from a consumer reporting agency
described in Section 603(p) of the Fair Credit Reporting Act; and



(3)  Any other documents, information, or evidence the
commissioner deems relevant to the inquiry or investigation, regardless of the
location, possession, control, or custody of the documents, information, or
evidence.



(b)  For the purposes of investigating
violations or complaints arising under this chapter, or for the purposes of
examination, the commissioner may review, investigate, or examine any licensed
mortgage loan originator, individual, or person subject to this chapter, as
often as necessary in order to carry out the purposes of this chapter.  The
commissioner may direct, subpoena, or order the attendance of, and examine under
oath all persons whose testimony may be required about loans or the business or
subject matter of any examination or investigation, and may direct, subpoena,
or order the person to produce books, accounts, records, files, and any other
documents the commissioner deems relevant to the inquiry.



(c)  Each licensed mortgage loan originator,
individual, or person subject to this chapter shall provide to the commissioner
upon request, the books and records relating to the operations of the licensee,
individual, or person subject to this chapter.  The commissioner shall have
access to the books and records and shall be permitted to interview the
officers, principals, mortgage loan originators, employees, independent
contractors, agents, and customers of the licensed mortgage loan originator,
individual, or person subject to this chapter concerning their business.



(d)  Each licensed mortgage loan originator,
individual, or person subject to this chapter shall make or compile reports or
prepare other information as directed by the commissioner in order to carry out
the purposes of this section, including:



(1)  Accounting compilations;



(2)  Information lists and data concerning loan
transactions in a format prescribed by the commissioner; or



(3)  Other information deemed necessary to carry out
the purposes of this section.



(e)  In making any examination or investigation
authorized by this chapter, the commissioner may control access to any
documents and records of the licensed mortgage loan originator or person under
examination or investigation.  The commissioner may take possession of the
documents and records or place a person in exclusive charge of the documents
and records in the place where they are usually kept.  During the period of
control, no individual or person shall remove or attempt to remove any of the
documents and records except pursuant to a court order or with the consent of
the commissioner.  Unless the commissioner has reasonable grounds to believe
the documents or records of the licensed mortgage loan originator have been, or
are at risk of being altered or destroyed for purposes of concealing a
violation of this chapter, the licensed mortgage loan originator or owner of
the documents and records shall have access to the documents or records as
necessary to conduct its ordinary business affairs. 



(f)  The commissioner may:



(1)  Retain attorneys, accountants, or other
professionals and specialists, who may be exempt from chapter 76, as examiners,
auditors, or investigators to conduct or assist in the conduct of examinations
or investigations;



(2)  Enter into agreements or relationships with other
government officials or regulatory associations in order to improve
efficiencies and reduce regulatory burden by sharing resources, standardized or
uniform methods or procedures, and documents, records, information, or evidence
obtained under this section;



(3)  Use, hire, contract, or employ public or
privately available analytical systems, methods, or software to examine or
investigate the licensed mortgage loan originator, individual, or person
subject to this chapter;



(4)  Accept and rely on examination or investigation
reports made by other government officials, within or without this State; and



(5)  Accept audit reports made by an independent certified
public accountant for the licensed mortgage loan originator, individual, or
person subject to this chapter in the course of that part of the examination
covering the same general subject matter as the audit and may incorporate the
audit report in the report of the examination, report of investigation, or
other writing of the commissioner. 



(g)  The authority of this section shall remain
in effect, whether such licensed mortgage loan originator, individual, or
person subject to this chapter acts or claims to act under any licensing or
registration law of this State, or claims to act without such authority.



(h)  No licensed mortgage loan originator,
individual, or person subject to investigation or examination under this
section may knowingly withhold, abstract, remove, mutilate, destroy, or secrete
any books, records, computer records, or other information. 



(i)  The commissioner may charge an examination
fee based upon the cost per hour per examiner for all mortgage loan originators
examined by the commissioner or the commissioner's staff.  The hourly fee shall
be $40 or an amount as the commissioner shall establish by rule pursuant to
chapter 91. [L Sp 2009, c 32, pt of §2]