Utah Admin. Code 162-2c-209

Current through Bulletin 2024-23, December 1, 2024
Section R162-2c-209 - Sponsorship
(1) A mortgage loan originator who is sponsored by an entity may operate and advertise under the name of:
(a) the entity;
(b) a branch office registered under the license of the entity; or
(c) another trade name registered under the license of the entity.
(2) A mortgage loan originator who operates or advertises under a name other than that of the entity by which the mortgage loan originator is sponsored:
(a) shall exercise due diligence to verify that the name being used is properly registered under the entity license; and
(b) shall not be immune from discipline if the individual conducts the business of residential mortgage loans on behalf of more than one entity, in violation of Section 61-2c-209(4)(b)(iii).
(3) An individual who holds a license as a mortgage loan originator may perform loan processing activities regardless of whether:
(a) the individual's license is sponsored by a licensed entity at the time the loan processing activities are performed; or
(b) the individual is employed by a licensed entity.

Utah Admin. Code R162-2c-209