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The Vermont Statutes Online



Title

08

:
Banking and Insurance






Chapter

073

:
LICENSED LENDERS











 

§

2208a. Mortgage loan originator change of employer or sponsor

(a) No mortgage

loan originator may be employed, supervised, and sponsored by more than one

licensed lender or licensed mortgage broker operating in this State.

Alternatively, a mortgage loan originator may be an individual sole proprietor

who is also licensed as a lender or mortgage broker in this State.

(b) A mortgage

loan originator shall notify the Commissioner and update its status on the

Nationwide Mortgage Licensing System and Registry within 15 days of any change

in the employer and sponsor of the mortgage loan originator subsequent to the

initial employer and sponsor. A fee of $50.00 payable to the Commissioner shall

accompany notice of such change of employer and sponsor. (Added 2009, No. 134

(Adj. Sess.), § 19.)