9-2216a.   Journal of mortgage transactions; annuallywritten report; penalty.(a) Each licensee shall maintain a journal of mortgagetransactions at thelicensee'sprincipal place of business, which shall include at least the followinginformation:

      (1)   Name, address and telephone number of each loan applicant;

      (2)   type of loan applied for and date of application; and

      (3)   disposition of each loan application, indicating date of loanfunding, loandenial,withdrawal and name of lender if applicableand name of loan originator and any compensation or other fees received bythe loan originator.

      (b)   Each licensee shall annually, on or before April 1, file a written reportwith thecommissioner containing the information that the commissioner may reasonablyrequireconcerning the licensee's business and operations during the preceding calendaryear. The reportshall be made in the form prescribed by the commissioner. Any licensee whofails to file thereport required by this section with the commissioner by April 1 shall besubject to a late penalty of $100 for each day after April 1 the report isdelinquent, but in noevent shall theaggregate of late penalties exceed $5000. The commissioner may relieve anylicensee from thepayment of any penalty, in whole or in part, for good cause.

      History:   L. 2001, ch. 88, § 1;L. 2009, ch. 29, § 13; July 1.