Chapter 454M — Chapter 454M

§454M-10 Penalty. Any person who violates any provision of this chapter, rule adopted or order issued pursuant to this chapter, or agreement with the commissioner may be subject to an administrative fine of not more than $7,000 for each violation; provided that if the aggregate f…

§454M-2 License required. (a) No person except those exempted under this chapter shall engage in the business of mortgage servicing without a license as provided in this chapter. (b) No person shall engage in the business of mortgage servicing in this State unless the person prov…

§454M-4.5 Registration with NMLS. The commissioner may require all mortgage servicers to register with NMLS. [L 2012, c 245, §1; am L 2013, c 92, §4]

§454M-5 Additional duties of a mortgage servicer; good faith and fair dealing; disclosures; payments, accounting, and records; assignment of servicing rights. (a) A mortgage servicer licensed or acting under this chapter, has a duty of good faith and fair dealing in its communica…

§454M-6 Prohibited activities. (a) It shall be a violation of this chapter for any mortgage servicer in the course of any mortgage loan transaction, or in connection with any mortgage servicing business, to: (b) It shall be a violation of this chapter for any mortgage servicer in…

§454M-7 License sanctions; cease and desist and other orders. (a) In addition to any other actions authorized by law, the commissioner may suspend; revoke; deny; condition in any manner; or refuse to renew, reinstate, or restore, any license issued under this chapter, or fine any…

§454M-8 Powers of commissioner. In addition to any other acts or conditions provided by law, the commissioner may:

§454M-8.5 Investigation and examination authority. (a) In addition to any other authority under this chapter, the commissioner shall have the authority to conduct investigations and examinations in accordance with this section. The commissioner may access, receive, and use any bo…