Alaska Administrative Code

(a) When a person applies for a mortgage license under AS 06.60, the person shall pay to the department through the registry (1) an application fee of $500 in partial payment of investigative expenses incurred by the department; and (2) an annual license fee of $1,000 for the per…

The department will provide notice through the registry to the applicant upon receipt of a complete application. For the purpose of beginning the 30-day period described in AS 06.60.050, the date the department assigns a "pending review" notice to the record of the applicant in t…

Notes 3 AAC 14.080 Eff. 7/1/2008, Register 186; repealed 12/4/2010, Register 196 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will…

(a) An application is considered abandoned if the department does not receive any response from the applicant, licensee, or registered depository institution for 60 days after the department assigns a notice of deficiency to the record of the applicant, licensee, or registered de…

Notes 3 AAC 14.090 Eff. 7/1/2008, Register 186; repealed 12/4/2010, Register 196 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will…

Notes 3 AAC 14.110 Eff. 7/1/2008, Register 186; repealed 12/4/2010, Register 196 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will…

Notes 3 AAC 14.115 Eff. 7/1/2008, Register 186; repealed 12/4/2010, Register 196 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will…

Notes 3 AAC 14.120 Eff. 7/1/2008, Register 186; repealed 12/4/2010. Register 196 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will…

Notes 3 AAC 14.125 Eff. 7/1/2008, Register 186; repealed 12/4/2010, Register 196 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will…

Notes 3 AAC 14.130 Eff. 7/1/2008, Register 186; repealed 12/4/2010, Register 196 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will…

Notes 3 AAC 14.135 Eff. 7/1/2008, Register 186; repealed 12/4/2010, Register 196 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will…

Notes 3 AAC 14.140 Eff. 7/1/2008, Register 186; repealed 12/4/2010, Register 196 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will…

Notes 3 AAC 14.145 Eff. 7/1/2008, Register 186; repealed 12/4/2010, Register 196 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will…

(a) To apply for registration under AS 06.60.014, a depository institution shall submit (1) to the registry (A) a complete Form MU1; (B) a complete Form MU2 for each control person and branch manager of the applicant; (C) a financial statement in compliance with 3 AAC 14.054; (D)…

(a) To renew a registration under AS 06.60.014, a registered depository institution shall submit to the department through the registry on or after November 1 of the annual registration period the annual registration fee required under 3 AAC 14.160(a)(2) and a renewal application…

(a) When a depository institution applies for registration under AS 06.60.014, the depository institution shall pay to the department through the registry (1) an application fee of $500 in partial payment of investigative expenses incurred by the department; and (2) an annual reg…

(a) If a registered depository institution does not submit an application for renewal and pay the annual registration fee required by 3 AAC 14.160(a)(2) to the department through the registry on or before December 31 of the annual registration period, the department will assign a…

(a) An applicant for a mortgage loan originator license must comply with the requirements of the registry for taking a qualified written test that includes a national component and a state component. (b) An applicant for a mortgage loan originator license must submit to the depar…

(a) Upon failing the initial taking and three consecutive retakings of a component of a qualified written mortgage loan originator competency test that is administered through the registry, an individual must wait at least 180 days before retaking the test. An individual may reta…

Notes 3 AAC 14.214 Eff. 12/4/2010, Register 196; repealed 1/1/2017, Register 220, January 2017 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison…

Notes 3 AAC 14.215 Eff. 7/1/2008, Register 186; repealed 12/4/2010, Register 196 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will…

Notes 3 AAC 14.217 Eff. 12/4/2010, Register 196; repealed 1/1/2017, Register 220, January 2017 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison…

(a) A mortgage loan originator licensee shall complete the continuing education required under AS 06.60.160 during the annual license period before license renewal or reactivation. Continuing education obtained in excess of the annual requirement under AS 06.60.160 may not be car…

(a) Notwithstanding 3 AAC 14.220(b), a mortgage loan originator licensee who meets the requirements of AS 06.60.087 other than the continuing education requirement of AS 06.60.087(a)(2) may make up the deficiency in continuing education, if the mortgage loan originator licensee, …

The prelicensing education required under AS 06.60.038 to obtain a mortgage loan originator license may be used to satisfy the continuing education required under AS 06.60.160 to renew a license, if the prelicensing education was completed in the calendar year immediately precedi…

Notes 3 AAC 14.225 Eff. 7/1/2008, Register 186; repealed 12/4/2010, Register 196 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will…

Notes 3 AAC 14.230 Eff. 7/1/2008, Register 186; repealed 12/4/2010, Register 196 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will…

Notes 3 AAC 14.235 Eff. 7/1/2008, Register 186; repealed 12/4/2010, Register 196 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will…

Notes 3 AAC 14.240 Eff. 7/1/2008, Register 186; repealed 12/4/2010, Register 196 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will…

Notes 3 AAC 14.245 Eff. 7/1/2008, Register 186; repealed 12/4/2010, Register 196 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will…

(a) If a relationship between a mortgage licensee or a registered depository institution and a mortgage loan originator is terminated, the mortgage licensee, the registered depository institution, or the mortgage loan originator shall terminate the sponsorship through the registr…

(a) To renew a license under AS 06.60.085, a licensee must submit to the department through the registry on or after November 1 of the annual licensing period the annual license fee required under 3 AAC 14.072(a) (2) or (b)(2), the surety fund fee if required under 3 AAC 14.072(b…

(a) If a licensee does not submit an application for renewal and pay the renewal fees under 3 AAC 14.310 to the department through the registry on or before December 31 of the annual licensing period, the department will assign a license status of "terminated/failed to renew" to …

Notes 3 AAC 14.320 Eff. 7/1/2008, Register 186; am 7/24/2009, Register 191; am 12/13/2009, Register 192; repealed 12/4/2010, Register 196 State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and t…

(a) If a license becomes inactive under AS 06.60.090, the license remains inactive until the license expires or is revoked or suspended, the person who holds the inactive license surrenders the license, or the department grants the person's request to reactivate the license, whic…

(a) The voluntary surrender of a mortgage license is not effective until the mortgage licensee has provided proof acceptable to the department that all loans of that mortgage licensee have either been paid in full or sold. The mortgage licensee shall submit a surrender checklist …

On or before March 15 of the year following an annual period of licensure, a mortgage licensee shall submit to the department the annual report required under AS 06.60.100(a), providing relevant information concerning the business and operations of the mortgage licensee, includin…

No later than 90 days after the close of its fiscal year, a mortgage licensee or a registered depository institution shall submit to the department through the registry a financial statement for the preceding fiscal year that satisfies the requirements of 3 AAC 14.054. Notes 3 AA…

A mortgage lender shall submit a report and a program administration fee of $10 directly to the department for each mortgage loan transaction closed by the mortgage lender. A mortgage lender shall submit a report and the collected fee no later than the 15th day of each month for …

A mortgage licensee or a registered depository institution shall pay a late filing civil penalty of $25 per day for each day that the annual report required under 3 AAC 14.410, the financial statement required under 3 AAC 14.411, the report and fees required under 3 AAC 14.412, o…

(a) A mortgage licensee shall supervise all operations and personnel at its principal office and any branch offices to ensure compliance with AS 06.60 and this chapter. A mortgage licensee or a registered depository institution shall diligently supervise each person operating as …

(a) A mortgage licensee, a registered exempt bona fide nonprofit organization, or a registered depository institution shall maintain (1) a list of all signed loan applications or executed fee agreements that provides each the following items: (A) the applicant's name; (B) the app…

(a) Before engaging in activities for which a license is required under AS 06.60 at a branch office, a mortgage licensee and a registered depository institution must register the branch office with the department through the registry. To apply for the registration of a branch off…

A mortgage licensee who or a registered depository institution that seeks to relocate the office listed as the main address on the Form MU1 or an office listed as a branch address on the Form MU3 shall submit a written notice directly to the department at least 30 days before rel…

(a) If a mortgage licensee or a registered depository institution seeks to close but not relocate the office listed at the main address on the Form MU1 without surrendering its license or registration, the mortgage licensee or the registered depository institution shall provide w…

(a) If a mortgage licensee or registered depository institution seeks to close but not relocate the office listed at the main address on the Form MU1 and surrender its license or registration, the mortgage licensee or registered depository institution shall provide written notice…

A mortgage licensee who or a registered depository institution that seeks to surrender a branch office registration shall submit an application for surrender of the branch office registration to the department through the registry. No later than seven days after submitting the ap…