Section 3 AAC 14.062 - Sponsorship(a) A mortgage loan originator license will not be granted to an applicant, unless a mortgage licensee or a registered depository institution sponsors the mortgage loan originator in the registry.(b) The sponsorship of a mortgage loan originator licensee by a mortgage licensee or a registered depository institution is not effective until it is approved by the department in the registry.(c) To operate as a mortgage loan originator licensee in the state, an individual must maintain a sponsorship by a mortgage licensee or a registered depository institution in the registry approved by the department.(d) A mortgage loan originator licensee may be sponsored by only one mortgage licensee or one registered depository institution under AS 06.60.159.Eff. 7/24/2009, Register 191; am 12/13/2009, Register 192; am 12/4/2010, Register 196; am 1/1/2017, Register 220, January 2017Authority:AS 06.60.012
AS 06.60.155
AS 06.60.159
AS 06.60.910