A. The Commissioner may make such investigations as he deems necessary todetermine if the applicant has complied with all applicable provisions of lawand regulations promulgated thereunder.
B. For the purpose of investigating individuals who are members, seniorofficers, directors, and principals of an applicant, such persons shallconsent to a national and state criminal history records check and submit tofingerprinting by a local or state law-enforcement agency. Each member,senior officer, director, and principal shall pay for the cost of suchfingerprinting and criminal records check. Upon receipt of the records checkfees along with such individuals' fingerprints and their personal descriptiveinformation, the Commissioner or his designee shall forward these items tothe Central Criminal Records Exchange. The Central Criminal Records Exchangeshall conduct a search of its own criminal history records and forward suchindividuals' fingerprints and personal descriptive information to the FederalBureau of Investigation for the purpose of obtaining national criminalhistory record information regarding such individuals. The Central CriminalRecords Exchange shall forward the results of the state and national recordssearch to the Commissioner or his designee, who shall be an employee of theCommission.
C. If any member, senior officer, director, or principal of an applicantfails to submit his fingerprints, personal descriptive information, orrecords check fees to the Commissioner or his designee in accordance withsubsection B, the application to engage in business as a mortgage lender ormortgage broker shall be denied.
A. The Commissioner may make such investigations as he deems necessary todetermine if the applicant has complied with all applicable provisions of lawand regulations promulgated thereunder.
B. For the purpose of investigating individuals who are members, seniorofficers, directors, and principals of an applicant, such persons shallconsent to a national and state criminal history records check and submit tofingerprinting by a local or state law-enforcement agency. Each member,senior officer, director, and principal shall pay for the cost of suchfingerprinting and criminal records check. Upon receipt of the records checkfees along with such individuals' fingerprints and their personal descriptiveinformation, the Commissioner or his designee shall forward these items tothe Central Criminal Records Exchange. The Central Criminal Records Exchangeshall conduct a search of its own criminal history records and forward suchindividuals' fingerprints and personal descriptive information to the FederalBureau of Investigation for the purpose of obtaining national criminalhistory record information regarding such individuals. The Central CriminalRecords Exchange shall forward the results of the state and national recordssearch to the Commissioner or his designee, who shall be an employee of theCommission.
C. If any member, senior officer, director, or principal of an applicantfails to submit his fingerprints, personal descriptive information, orrecords check fees to the Commissioner or his designee in accordance withsubsection B, the application to engage in business as a mortgage lender ormortgage broker shall be denied.
A. The Commissioner may make such investigations as he deems necessary todetermine if the applicant has complied with all applicable provisions of lawand regulations promulgated thereunder.
B. For the purpose of investigating individuals who are members, seniorofficers, directors, and principals of an applicant, such persons shallconsent to a national and state criminal history records check and submit tofingerprinting by a local or state law-enforcement agency. Each member,senior officer, director, and principal shall pay for the cost of suchfingerprinting and criminal records check. Upon receipt of the records checkfees along with such individuals' fingerprints and their personal descriptiveinformation, the Commissioner or his designee shall forward these items tothe Central Criminal Records Exchange. The Central Criminal Records Exchangeshall conduct a search of its own criminal history records and forward suchindividuals' fingerprints and personal descriptive information to the FederalBureau of Investigation for the purpose of obtaining national criminalhistory record information regarding such individuals. The Central CriminalRecords Exchange shall forward the results of the state and national recordssearch to the Commissioner or his designee, who shall be an employee of theCommission.
C. If any member, senior officer, director, or principal of an applicantfails to submit his fingerprints, personal descriptive information, orrecords check fees to the Commissioner or his designee in accordance withsubsection B, the application to engage in business as a mortgage lender ormortgage broker shall be denied.
