Legislative findings regarding mortgage loan originators
- • prohibited practice
(1) The Legislative Assembly finds and declares that:
(a) The public interest is served by identifying a mortgage loan originator with a specific mortgage banker or mortgage broker; and
(b) The public must be protected from the conflicts of interest created when a mortgage loan originator is employed by more than one mortgage lender.
(2) A mortgage loan originator may not originate loans for more than one mortgage banker, mortgage broker or other mortgage lender or independent mortgage agency at the same time. [Formerly 59.967]
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