What is the maximum penalty the California Commissioner may impose for a violation against an MLO lender or broker?If the commissioner determines, after a hearing, that a person has violated this chapter, the commissioner may, in addition to all other remedies, impose a civil penalty upon the person in an amount not to exceed $10,000 for each violation.
When a citation for a violation of the California financing law is issued how much can the violator be fined?In addition, each citation may assess an administrative fine not to exceed two thousand five hundred dollars ($2,500) that shall be deposited in the State Corporations Fund.
What is the maximum fine for a person who willfully engages in unlicensed activity in Michigan?(a) In the case of a first offense, a misdemeanor punishable by a fine of not less than $5,000.00 or more than $25,000.00, or imprisonment for not more than 1 year, or both.
Who regulates mortgage originators California?California mortgage licensing : CA has 2 regulatory agencies. CA Department of business oversight and CA Bureau of Real Estate. These two agencies offer two different types of company licenses.
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