reglab/housing_qa huggingface dataset:
WY Stat § 40-23-108 (2021)
2021 Wyoming Statutes|Title 40 - Trade and Commerce|Chapter 23 - Wyoming Residential Mortgage Practices Act|Section 40-23-108 - Change in Control of a Licensee.

40-23-108. Change in control of a licensee.| (a) A licensee shall give the commissioner written notice of a proposed change of control of a licensee within fifteen (15) business days after learning of the proposed change of control.  (b) The commissioner may require the licensee to provide additional information concerning the proposed persons in control of the licensee. The additional information shall be limited to the same information required of the licensee or persons in control of the licensee as part of its original license or renewal application.  (c) The licensee shall reapply and submit the required fees established by rule, not to exceed one thousand dollars ($1,000.00) for a home office location and an amount not to exceed one hundred dollars ($100.00) for each additional location upon a change in the control of the licensee as determined by the commissioner. The license is not transferable nor assignable to the new persons in control of the licensee.  (d) Before filing a request for approval to acquire control, a person may request in writing a determination from the commissioner as to whether the person would be considered a person in control of a licensee upon consummation of a proposed transaction. If the commissioner determines that the person would not be a person in control of a licensee, the commissioner shall enter an order stating the proposed person and transaction is not subject to the requirements of subsections (a) through (c) of this section.
WY Stat § 40-23-109 (2021)
2021 Wyoming Statutes|Title 40 - Trade and Commerce|Chapter 23 - Wyoming Residential Mortgage Practices Act|Section 40-23-109 - License Renewal and Annual Report.

40-23-109. License renewal and annual report.| (a) Each mortgage broker and mortgage lender license issued under this act shall expire on December 31. The license shall be renewed annually not less than thirty (30) days before the stated expiration date. The renewal fee for each license shall not exceed one thousand dollars ($1,000.00) for the home office location and an amount not to exceed one hundred dollars ($100.00) for each additional location, as set by rule of the commissioner.  (b) The renewal fee shall be accompanied by a report, in a form prescribed by the commissioner, which shall include:  (i) Any material changes to any of the information submitted by the licensee on its original application which have not been reported previously to the commissioner on any other report required to be filed under this act;  (ii) Any update necessary on the surety bond;  (iii) Any update on civil or criminal proceedings against the licensee or any administrative or enforcement proceedings by any state or federal government agency involving fines, penalties or the revocation or suspension of any business licensee or authority substantially equivalent to a license under this act;  (iv) Any other information as the commissioner may deem necessary.
WY Stat § 40-23-110 (2021)
2021 Wyoming Statutes|Title 40 - Trade and Commerce|Chapter 23 - Wyoming Residential Mortgage Practices Act|Section 40-23-110 - Surety Bonds.

40-23-110. Surety bonds.| (a) All licensees shall maintain a surety bond to the state of Wyoming in accordance with this section. The surety bond shall be used to cover individual loan originators employed or under contract with a licensee. The bond to be maintained shall be in the amount:  (i) Until December 31, 2009, of twenty-five thousand dollars ($25,000.00). This amount shall be increased by an additional sum of ten thousand dollars ($10,000.00) for each licensed office;  (ii) Effective January 1, 2010, as established by rule of the commissioner based upon the volume of business activity transacted by the licensee under this act.  (b) The surety bond shall be a continuing obligation of the issuing surety. The surety's liability under the bond for any claims made under the bond either individually or in the aggregate shall in no event exceed the face amount of the bond issued. The bond shall be issued by a surety authorized to do business in the state of Wyoming. The bond, including any and all riders and endorsements executed subsequent to the effective date of the bond, shall be placed on file with the commissioner.  (c) In the event that a licensee or person employed by or under contract with a licensee has violated any of the provisions of this act or of a rule or order lawfully made pursuant to this act, or federal law or regulation pertaining to the mortgage lending or mortgage brokering, and has damaged any person by such violation, then the bond shall be forfeited and paid by the surety to the state of Wyoming for the benefit of any person so damaged, in an amount sufficient to satisfy the violation or the bond in its entirety if the violation exceeds the amount of the bond.  (d) Surety bonds shall remain effective continuously until released in writing by the commissioner. If a bond has not been previously released by the commissioner, the bond shall expire two (2) years after the date of the surrender, revocation or expiration of the license.
WY Stat § 40-23-111 (2021)
2021 Wyoming Statutes|Title 40 - Trade and Commerce|Chapter 23 - Wyoming Residential Mortgage Practices Act|Section 40-23-111 - Examinations and Investigations.

40-23-111. Examinations and investigations.| (a) The commissioner may conduct examinations of any licensee under this act at intervals he deems necessary to determine compliance with this act and other applicable laws, rules and regulations.  (b) The commissioner may at any time investigate the loans or business books and records of any licensee or person engaged in mortgage lending or mortgage brokering activities for the purpose of determining compliance with this act or securing information required under this act. For these purposes, the commissioner shall have free and reasonable access to the offices, places of business, books and records of the licensee.  (c) If a licensee's or person's records are located outside this state, the licensee or person shall have the option to make them available to the commissioner at a convenient location within this state, or pay the reasonable and necessary expenses for the commissioner or his representative to examine them at the place where they are maintained. The commissioner may designate representatives, including comparable officials of the state in which the records are located, to inspect them on his behalf.  (d) Each licensee or person subject to examination or investigation under this act shall pay to the commissioner an amount assessed by the commissioner to cover the direct and indirect cost of examinations or investigations conducted pursuant to this section not to exceed one hundred dollars ($100.00) per hour.
WY Stat § 40-23-115 (2021)
2021 Wyoming Statutes|Title 40 - Trade and Commerce|Chapter 23 - Wyoming Residential Mortgage Practices Act|Section 40-23-115 - Loan Commitments; Prepayment Penalty Disclosure by Mortgage Broker.

40-23-115. Loan commitments; prepayment penalty disclosure by mortgage broker.| (a) A mortgage broker may issue a loan commitment and may furnish a lock-in of the interest rate and program on behalf of the mortgage lender when the mortgage broker has obtained a written or electronically transmitted loan commitment or lock-in for the mortgage loan from the mortgage lender on behalf of the borrower. The loan commitment issued by the mortgage broker to the borrower on behalf of the mortgage lender shall be in the same form and substance as issued by the mortgage lender and shall identify the mortgage lender by name.  (i) Repealed By Laws 2008, Ch. 76, § 2.  (ii) Repealed By Laws 2008, Ch. 76, § 2.  (iii) Repealed By Laws 2008, Ch. 76, § 2.  (iv) Repealed By Laws 2008, Ch. 76, § 2.  (b) If a prepayment penalty is a condition of the residential mortgage loan offered to a borrower, that fact shall be separately disclosed in writing to the borrower and the borrower shall agree in writing to accept that condition. The disclosure shall state that a prepayment penalty provision imposes a charge if the borrower refinances or pays off the mortgage loan before the date for repayment stated in the loan agreement. The written disclosure shall be in a form prescribed by the commissioner and shall be delivered as soon as the condition is known, but no later than the issuance of a commitment, for the mortgage loan product chosen by the borrower.
WY Stat § 40-23-116 (2021)
2021 Wyoming Statutes|Title 40 - Trade and Commerce|Chapter 23 - Wyoming Residential Mortgage Practices Act|Section 40-23-116 - Trust Accounts.

40-23-116. Trust accounts.| All monies received from a borrower for payment of third party provider services shall be deemed as held in trust immediately upon receipt. All such trust funds shall be deposited, prior to the end of the third business day following receipt of the funds, in a trust account of a federally insured financial institution. All trust account funds collected under this act shall remain on deposit in a noninterest bearing trust account until disbursement. The trust account shall be designated and maintained for the benefit of borrowers. Monies maintained in the trust account shall be exempt from execution, attachment or garnishment. A mortgage lender or mortgage broker shall not in any way encumber the corpus of the trust account or commingle any other operating funds with trust account funds. Withdrawals from the trust account shall be only for the payment of bona fide services rendered by a third party provider or for refunds to a borrower.
WY Stat § 40-23-117 (2021)
2021 Wyoming Statutes|Title 40 - Trade and Commerce|Chapter 23 - Wyoming Residential Mortgage Practices Act|Section 40-23-117 - Prohibited Practices.

40-23-117. Prohibited practices.| (a) No licensee or person required to have a license shall:  (i) Pay compensation to, contract with or employ in any manner, any person engaged in mortgage lending or brokering activities who is not properly licensed unless such person is exempt under W.S. 40-23-105;  (ii) Obtain any exclusive dealing or exclusive agency agreement from any borrower;  (iii) Delay closing of any residential mortgage loan for the purpose of increasing interest, costs, fees or charges payable by the borrower;  (iv) Accept any fees at closing which were not previously disclosed fully to the borrower;  (v) Obtain any agreement or instrument in which blanks are left to be filled in after execution;  (vi) Engage in any misrepresentation in connection with a residential mortgage loan;  (vii) Directly or indirectly make any statement regarding value, except that a copy of the sales contract for purchase transactions may be provided, or make or provide payment of any kind to any in-house or fee appraiser for the purpose of influencing the independent judgment of the appraiser with respect to the value of any real estate which is to be covered by a residential mortgage loan;  (viii) Make any false promises likely to influence or persuade, or pursue a course of misrepresentations and false promises through agents, solicitors, advertising or otherwise;  (ix) Misrepresent, circumvent or conceal any of the material particulars or the nature thereof, regarding a transaction to which it is a party;  (x) Enter into any agreement, with or without the payment of a fee, to fix in advance a particular interest rate or other term in a residential mortgage loan unless written confirmation of the agreement is delivered to the borrower.
WY Stat § 40-23-118 (2021)
2021 Wyoming Statutes|Title 40 - Trade and Commerce|Chapter 23 - Wyoming Residential Mortgage Practices Act|Section 40-23-118 - License Suspension or Revocation.

40-23-118. License suspension or revocation.| (a) The commissioner may suspend, not to exceed six (6) months, or revoke a license if the commissioner finds:  (i) Any fact or condition exists that, if it had existed at the time when the licensee applied for its license, would have been grounds for denying the application;  (ii) The licensee violated any provision of this act or any rule or order validly promulgated by the commissioner;  (iii) The licensee is conducting its business in an unsafe or unsound manner;  (iv) The licensee refuses to permit the commissioner to make any examination authorized by this act;  (v) The licensee willfully fails to make any report required by this act;  (vi) The competence, experience, character or general fitness of the licensee indicates that it is not in the public interest to permit the licensee to continue to conduct business;  (vii) The bond of the licensee has been revoked, cancelled, expired or otherwise is not effective;  (viii) The licensee or any partner, officer, director, manager or employee of the licensee has been convicted of a felony or misdemeanor involving any aspect of the mortgage lending business, breach of trust, or fraudulent or dishonest dealing;  (ix) The licensee or any partner, officer, director, manager or employee of the licensee has had a license substantially equivalent to a license under this act, and issued by another state, denied, revoked or suspended under the laws of that state;  (x) The licensee has filed an application for a license which as of the date the license was issued, or as of the date of an order denying, suspending or revoking a license, was incomplete in any material respect or contained any statement that was, in light of the circumstances under which it was made, false or misleading with respect to any material fact.  (b) Notwithstanding any provision of the Wyoming Administrative Procedure Act, if the commissioner finds that probable cause for revocation of a license exists and that enforcement of this act and the public interest require immediate suspension of the license pending investigation, he may, after a hearing upon five (5) days written notice, enter an order suspending the license for not more than thirty (30) days.  (c) The commissioner may, in his discretion, reinstate a license, terminate a suspension or grant a new license to a person whose license has been revoked or suspended if no fact or condition then exists which clearly would justify the commissioner in refusing to grant a license.  (d) For purposes of this section, "licensee" shall also mean a licensed mortgage loan originator pursuant to W.S. 40-23-124.
WY Stat § 40-23-119 (2021)
2021 Wyoming Statutes|Title 40 - Trade and Commerce|Chapter 23 - Wyoming Residential Mortgage Practices Act|Section 40-23-119 - Orders to Cease and Desist.

40-23-119. Orders to cease and desist.| (a) If the commissioner determines that a violation of this act or of a rule adopted or an order issued under this act by a licensee is likely to cause immediate and irreparable harm to the licensee, its customers or the public as a result of the violation or cause insolvency of the licensee, the commissioner may issue an order requiring the licensee to cease and desist from the violation. The order becomes effective upon service upon the licensee.  (b) If the commissioner determines that a person is conducting mortgage lending or mortgage brokering activities governed under this act without a valid license, the commissioner may issue an order requiring the unlicensed person to cease and desist from mortgage lending or mortgage brokering activities. The order becomes effective upon service upon the unlicensed person.  (c) Before issuing a final cease and desist order under subsections (a) and (b) of this section, the commissioner shall serve notice of intent to issue the order upon the person being ordered to cease and desist. The notice shall be in writing and shall direct the person to discontinue the violations of law and cease and desist mortgage lending or mortgage brokering activities. The notice shall be served by certified mail return receipt requested to the last known address of the person or shall be served as provided by the Wyoming Rules of Civil Procedure. Notice of the order shall include:  (i) A statement of the grounds for issuing the proposed order, including a citation to the statute or rule involved;  (ii) A statement of the facts in support of the allegations;  (iii) A statement informing the person of the right to a hearing on the order.  (d) In an emergency, the commissioner may petition the district court for the issuance of a temporary restraining order.  (e) An order to cease and desist becomes effective upon service upon the person.  (f) An order to cease and desist remains effective and enforceable pending the completion of an administrative proceeding pursuant to the Wyoming Administrative Procedure Act.  (g) A person served with an order to cease and desist for violating this act may petition the district court for a judicial order setting aside, limiting or suspending the enforcement, operation or effectiveness of the order pending the completion of an administrative proceeding pursuant to the Wyoming Administrative Procedure Act.  (h) The commissioner shall commence a contested case proceeding within twenty (20) days after issuing an order to cease and desist.
WY Stat § 40-23-120 (2021)
2021 Wyoming Statutes|Title 40 - Trade and Commerce|Chapter 23 - Wyoming Residential Mortgage Practices Act|Section 40-23-120 - Consent Orders.

40-23-120. Consent orders.| The commissioner may enter into a consent order at any time with a person to resolve a matter arising under this act. A consent order shall be signed by the person to whom it is issued or by the person's authorized representative and shall indicate agreement with the terms contained in the order. A consent order may provide that it does not constitute an admission by a person that this act or a rule adopted or an order issued under this act has been violated.
WY Stat § 40-23-121 (2021)
2021 Wyoming Statutes|Title 40 - Trade and Commerce|Chapter 23 - Wyoming Residential Mortgage Practices Act|Section 40-23-121 - Civil Penalties.

40-23-121. Civil penalties.| The commissioner may impose a civil penalty upon a person who violates this act or a rule adopted or an order issued under this act in an amount not to exceed five hundred dollars ($500.00) per day for each day the violation is outstanding, plus the state's costs and expenses for the investigation and prosecution of the matter, including reasonable attorney's fees. Any penalties collected pursuant to this section shall be deposited in the public school fund of the appropriate county as required by article 7, section 5 of the Wyoming constitution.
WY Stat § 40-23-122 (2021)
2021 Wyoming Statutes|Title 40 - Trade and Commerce|Chapter 23 - Wyoming Residential Mortgage Practices Act|Section 40-23-122 - Criminal Penalties.

40-23-122. Criminal penalties.| (a) A person who intentionally makes a false statement, misrepresentation or false certification in a record filed or required to be maintained under this act or who intentionally makes a false entry or omits a material entry in the record is guilty of a felony, punishable by not less than three (3) years imprisonment or a fine of not less than ten thousand dollars ($10,000.00), or both.  (b) An individual who knowingly engages in any activity for which a license is required under this act, without being licensed under this act is guilty of a felony punishable by not less than three (3) years imprisonment or a fine of not less than ten thousand dollars ($10,000.00), or both.  (c) A person, except an individual, who knowingly engages in any activity for which a license is required under this act, without being licensed under this act is guilty of a misdemeanor punishable by a fine of not less than twenty-five thousand dollars ($25,000.00).
WY Stat § 40-23-123 (2021)
2021 Wyoming Statutes|Title 40 - Trade and Commerce|Chapter 23 - Wyoming Residential Mortgage Practices Act|Section 40-23-123 - Hearings.

40-23-123. Hearings.| Except as otherwise provided in W.S. 40-23-103(a)(vii), 40-23-108(c) and 40-23-109, the commissioner shall not suspend or revoke a license, issue an order to cease and desist or assess a civil penalty without notice and an opportunity to be heard.
WY Stat § 40-23-124 (2021)
2021 Wyoming Statutes|Title 40 - Trade and Commerce|Chapter 23 - Wyoming Residential Mortgage Practices Act|Section 40-23-124 - Loan Originator Licensing; Registration; Rulemaking.

40-23-124. Loan originator licensing; registration; rulemaking.| (a) An individual, unless specifically exempted under subsection (c) of this section, shall not engage in the business of a mortgage loan originator for any dwelling located in Wyoming without first obtaining and maintaining annually a license in accordance with this act. Each licensed mortgage loan originator shall register with and maintain a valid unique identifier issued by the registry.  (b) In order to facilitate an orderly transition to licensing and minimize disruption in the marketplace, the effective date for subsection (a) of this section shall be July 1, 2010.  (c) An individual is exempt from subsection (a) of this section if he is:  (i) A registered mortgage loan originator, when acting for an entity described in W.S. 40-23-102(a)(xxx)(B)(I), (II) or (III);  (ii) An individual who offers or negotiates terms of a residential mortgage loan with or on behalf of an immediate family member of the individual;  (iii) An individual who offers or negotiates terms of a residential mortgage loan secured by a dwelling that serves as the individual's residence;  (iv) A licensed attorney who negotiates the terms of a residential mortgage loan on behalf of a client as an ancillary matter to the attorney's representation of the client, unless the attorney is compensated by a lender, a mortgage broker or other mortgage loan originator or by any agent of such lender, mortgage broker or other mortgage loan originator;  (v) An individual engaging solely in loan processor or underwriter activities, who does not represent to the public, through advertising or other means of communicating or providing information including the use of business cards, stationery, brochures, signs, rate lists or other promotional items, that the individual can or will perform any of the activities of a mortgage loan originator.  (d) A loan processor or underwriter who is an independent contractor may not engage in the activities of a loan processor or underwriter unless the independent contractor, loan processor or underwriter obtains and maintains a license pursuant to subsection (a) of this section. Each independent contractor, loan processor or underwriter licensed as a mortgage loan originator shall have and maintain a valid unique identifier issued by the registry.  (e) For the purposes of implementing an orderly and efficient licensing process the commissioner may establish licensing rules or regulations and interim procedures for licensing and acceptance of applications.