reglab/housing_qa huggingface dataset:
AZ Rev Stat § 6-991.01 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-991.01 - Exemptions

6-991.01.  Exemptions This article does not apply to:  1. Registered loan originators. 2. An individual who offers or negotiates terms of a residential mortgage loan secured by a dwelling that served as the individual's residence. 3. A person who is a responsible individual as described in section 6-903,  6-943 or 6-973 and who does not act as a loan originator pursuant to article 1,  2 or 3 of this chapter. 4. An employee of a commercial mortgage banker licensed pursuant to article 3 of this chapter. 5. An employee of a person licensed pursuant to this chapter if the licensee affirms in writing to the deputy director that the licensee will not originate or negotiate a mortgage loan that has security in the form of a residential dwelling of one to four units. 6. A person who,  as seller of real property,  receives one or more mortgages or deeds of trust as security for a purchase money obligation. 7. 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 any other loan originator or by any agent of the lender,  mortgage broker or other loan originator. 8. An individual who offers to negotiate terms of a residential mortgage loan with or on behalf of the individual's immediate family member and who does not otherwise engage in the business of a loan originator. 9. A manufactured home retailer and its employees if performing only clerical or support duties in connection with the sale or lease of a manufactured home and the manufactured home retailer and its employees receive no compensation or other gain from a mortgage banker or a mortgage broker for the performance of the clerical or support duties. 10. An individual who is employed by a residential mortgage loan servicer if the individual is involved solely in loss mitigation efforts,  unless the United States department of housing and urban development determines that the secure and fair enforcement for mortgage licensing act of 2008 (P.L. 110-289;  122 Stat. 2810;  12 United States Code sections 5101 through 5116) requires the individual to be licensed as a mortgage loan originator. For the purposes of this paragraph,  " loss mitigation efforts"  means a residential mortgage loan borrower is in default or default is reasonably foreseeable and an individual works with the borrower on behalf of the residential mortgage loan servicer to modify either temporarily or permanently the obligation or to otherwise mitigate loss on an existing residential mortgage loan. 11. An employee or the person who is the responsible individual of a financial institution who is licensed pursuant to article 1,  2 or 3 of this chapter if the responsible individual certifies in writing to the deputy director that the employee or the responsible individual,  or both the employee and the responsible individual,  will only originate commercial mortgage loans as defined in section 6-901.
AZ Rev Stat § 6-991.05 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-991.05 - Denial, suspension or revocation of licenses

6-991.05.  Denial,  suspension or revocation of licenses A. The deputy director may deny a license to a person or suspend or revoke a license if the deputy director finds that an applicant or licensee: 1. Is not a person of honesty,  truthfulness or good character. 2. Has violated any law,  rule or order. 3. Has been convicted of or pled guilty or nolo contendere to a misdemeanor if it involved an act of fraud,  dishonesty or breach of trust or money laundering at any time preceding the date of application. 4. Has had a final judgment entered against the applicant or licensee in a civil action on grounds of fraud,  deceit or misrepresentation,  and the conduct on which the judgment is based indicates that it would be contrary to the interest of the public to allow the person to be licensed. 5. Has had an administrative agency of this state,  the federal government or any other state or territory of the United States enter an order against the applicant or licensee involving fraud,  deceit or misrepresentation,  and the facts relating to the order indicate that it would be contrary to the interest of the public to allow the person to be licensed. 6. Has made a material misstatement or suppressed or withheld information on the application for a license or any document required to be filed with the deputy director.  7. Has had a loan originator license,  consumer lender license,  mortgage broker license or mortgage banker license revoked or denied in this state or any other state. B. The deputy director shall deny a license to a person or suspend or revoke a license if the deputy director finds that either of the following applies: 1. The applicant or licensee has been convicted of or pled guilty or nolo contendere to a felony in a domestic,  foreign or military court during the seven-year period immediately preceding the date of the application or at any time preceding the date of application if the felony involved an act of fraud,  dishonesty or a breach of trust or money laundering. 2. The applicant or licensee does not have the financial responsibility,  experience or competence to adequately serve the public or to warrant the belief that the applicant or licensee will act lawfully,  honestly and fairly pursuant to this article. C. If a licensee or applicant under this article is indicted or informed against for forgery,  embezzlement,  obtaining money under false pretenses,  extortion,  criminal conspiracy to defraud or a similar offense,  and a certified copy of the indictment or information or other proper evidence of the indictment or information is filed with the deputy director,  the deputy director may suspend the license or refuse to grant a license to an applicant pending trial on the indictment.
AZ Rev Stat § 6-991.07 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-991.07 - Examination; fee; definition

6-991.07.  Examination;  fee;  definition A. Each applicant for an original loan originator license,  before issuance of the license,  shall take and pass an examination that is developed or otherwise deemed acceptable by the nationwide mortgage licensing system and registry established by the secure and fair enforcement for mortgage licensing act of 2008 (P.L. 110-289;  122 Stat. 2810;  12 United States Code sections 5101 through 5116) or its successor and that is given under the supervision of the department or its designee. The examination must reasonably examine the applicant's knowledge of all of the following: 1. The obligations between principal and agent.  2. The applicable canons of business ethics.  3. The arithmetical computations common to mortgage brokerage.  4. The principles of real estate lending.  5. The general purposes and legal effect of mortgages,  deeds of trust and security agreements.  6. The terms and conditions of conforming and nonconforming residential mortgage products. B. The examination is subject to the deputy director's approval. C. An applicant may take the examination three consecutive times with each consecutive taking occurring at least thirty days after the preceding examination. An applicant who fails the examination on three consecutive occasions must wait at least six months before taking the examination again. D. All examinations shall be given,  conducted and graded in a fair and impartial manner and without unfair discrimination between individuals examined. The department's designee shall inform the applicant of the result of the examination within thirty days after the examination. E. The deputy director shall set the fee for each examination that is consistent with the requirements established by the nationwide mortgage licensing system and registry established by the secure and fair enforcement for mortgage licensing act of 2008 (P.L. 110-289;  122 Stat. 2810;  12 United States Code sections 5101 through 5116) or its successor. The deputy director may contract for the examination for the licensing of applicants. If the deputy director contracts for the examination,  the fee for examination for licenses pursuant to this section is payable directly to the contractor by the applicant for examination. F. For the purposes of this section,  " applicant"  means a person who has submitted a completed application in the form prescribed by the deputy director.
AZ Rev Stat § 6-991.08 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-991.08 - Reasonable efforts to secure advantageous loan for borrower

6-991.08.  Reasonable efforts to secure advantageous loan for borrower A loan originator shall make reasonable efforts to secure a loan that is reasonably advantageous to the borrower considering all of the circumstances,  including the interest rates,  charges and repayment terms of the loan.
AZ Rev Stat § 6-991.09 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-991.09 - Mortgage recovery fund; liability limits

6-991.09.  Mortgage recovery fund;  liability limits A. The deputy director shall establish and maintain a mortgage recovery fund consisting of the monies received by the deputy director pursuant to this article for the benefit of any person aggrieved by any act,  representation,  transaction or conduct of a licensed loan originator that violates this title or the rules adopted pursuant to this title. B. On notice from the deputy director,  the state treasurer shall invest and divest monies in the fund as provided by section 35-313,  and monies earned from investment shall be credited to the fund. C. Notwithstanding any other law,  the deputy director may spend interest monies from the fund that are necessary to increase public awareness of the fund,  but that do not exceed $50, 000 in any fiscal year. D. The fund shall only pay for a loss that is an actual and direct out-of-pocket loss to an aggrieved person directly arising out of a mortgage transaction,  including reasonable attorney fees and court costs. E. The mortgage recovery fund's liability shall not exceed: 1. $200, 000 for each transaction,  regardless of the number of persons aggrieved or the number of licensees or parcels of real estate involved. 2. $500, 000 for each licensee. F. The liability of the fund for the acts of a licensed loan originator is terminated on the issuance of orders authorizing payments from the fund in an aggregate amount as prescribed by subsection E of this section. G. The fund is liable to pay only against the license of a natural person,  not on that of a corporation,  a partnership or any other fictitious entity. H. The fund is liable to pay only for damages arising out of a transaction in which the defendant licensee performed acts for which a loan originator license was required or when the defendant licensee engaged in fraud or misrepresentation and the aggrieved person was harmed due to reliance on the defendant's licensed status. I. The fund shall not pay any claim until the penal sums of the bonds required under section 6-903 or 6-943 have been exhausted.
AZ Rev Stat § 6-991.10 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-991.10 - Payments to the mortgage recovery fund

6-991.10.  Payments to the mortgage recovery fund A. In addition to any other fees,  applicants shall pay an amount to be determined by the deputy director to the mortgage recovery fund on application for an original loan originator license. B. If,  on June 30 of any year,  the balance remaining in the mortgage recovery fund is less than $2, 000, 000,  every licensee when renewing a loan originator license during the following license year shall pay,  in addition to the license renewal fee,  a fee to be determined by the deputy director for deposit in the mortgage recovery fund.
AZ Rev Stat § 6-991.12 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-991.12 - Notice of claim to judgment debtor; response

6-991.12.  Notice of claim to judgment debtor;  response A. Within the same time prescribed by section 6-991.11,  subsection C for applying for payment from the mortgage recovery fund,  an aggrieved party who applies for payment shall serve notice of the claim on the judgment debtor,  together with a copy of the application. The notice shall be in the following form: NOTICE  Based on a judgment against you in favor of (enter name of claimant),  application is being made to the Arizona department of insurance and financial institutions for payment from the mortgage recovery fund. If you wish to contest payment from the mortgage recovery fund,  you must file a written response to the application. The deputy director of the financial institutions division of the department of insurance and financial institutions must receive your response at (address) within thirty-five calendar days after the date this notice is (mailed,  delivered,  first published). You must also send a copy of the response to the claimant. If you fail to respond as required,  you waive your right to present your objections to payment. B. If the judgment debtor holds a current license issued by the department,  the notice and copy of the application may be served by certified mail,  return receipt requested,  addressed to the judgment debtor's latest business or residence address on file with the department. If the judgment debtor does not hold a current license and if personal delivery cannot be effected by exercising reasonable diligence,  the claimant must publish the notice once a week for two consecutive weeks in a newspaper of general circulation in the county in which the judgment debtor was last known to reside. C. If the judgment debtor fails to file a written response to the application with the department within thirty-five calendar days after service under subsection B of this section or after the first publication of the notice,  the judgment debtor is not entitled to notice of any action taken or proposed to be taken by the deputy director with respect to the claim.
AZ Rev Stat § 6-991.13 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-991.13 - Correction of deficiencies in the application

6-991.13.  Correction of deficiencies in the application A. If the deputy director determines that a claimant's application fails to comply substantially with the requirements of section 6-991.11 or rules adopted pursuant to this article,  the deputy director,  within thirty calendar days after receiving the application,  shall mail an itemized list of deficiencies to the claimant. For the purposes of this subsection,  " comply substantially"  means filing with the department the documents that are minimally necessary to process a claim,  including at least a certified copy of the judgment,  legible copies of documents establishing the underlying transaction and amounts of losses suffered and a statement concerning amounts recovered from or on behalf of the judgment debtor. B. The claimant must respond within sixty calendar days after receiving the list of deficiencies by providing the information identified by the deputy director. If the claimant fails to correct the deficiencies within sixty calendar days,  the department shall close the file unless the claimant requests an extension in writing. A claimant whose file has been closed may submit a new application as provided by section 6-991.11. C. The deadline prescribed by section 6-991.15 for the deputy director to make a decision on the application is suspended from the date the deputy director mails the list of deficiencies to the applicant until the date the department receives the requested information.
AZ Rev Stat § 6-991.14 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-991.14 - Investigation and discovery

6-991.14.  Investigation and discovery In considering and investigating an application,  the department may use all appropriate means of investigation and discovery that are available pursuant to this article.
AZ Rev Stat § 6-991.15 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-991.15 - Final decision and order on claim; notice

6-991.15.  Final decision and order on claim;  notice A. The deputy director shall make a final written decision and order on a claim within ninety calendar days after receiving a completed application except in the following cases: 1. A proration hearing is pending under section 6-991.11. 2. An application is deficient or fails to comply substantially with the requirements of section 6-991.11 or rules adopted pursuant to this article as determined pursuant to section 6-991.13. 3. The claimant agrees in writing to extend the time for making a decision. B. If the deputy director fails to render a written decision and order on a claim within ninety calendar days after receiving a completed application,  or within an extended period of time provided under subsection A of this section,  the claim is considered to be approved on the day following the final day for rendering the decision. C. The deputy director may approve or deny an application or may enter into a compromise with the claimant to pay less in settlement than the full amount of the claim. If the claimant refuses to accept a settlement offered by the deputy director,  the deputy director shall deny the claim. D. The deputy director shall give notice of a decision and order with respect to the claim to the claimant and to any judgment debtor who has filed a timely response to the claim pursuant to section 6-991.12 as follows: 1. If the deputy director denies the application,  the notice shall include the following: The claimant's application has been denied. If the claimant wishes to pursue the application in court,  the claimant must file the application in the court in which the underlying judgment was entered within six months after receiving this notice,  pursuant to section 6-991.16,  Arizona Revised Statutes. 2. If the deputy director's decision is to make a payment to the claimant out of the mortgage recovery fund,  the following notice shall be given to the judgment debtor with a copy of the decision and order of the deputy director: The decision of the deputy director of the financial institutions division of the department of insurance and financial institutions on the claim of (name of claimant) is to pay $__________ from the mortgage recovery fund. A copy of that decision and order is enclosed. If you desire a judicial review of the deputy director's decision and order or the termination of your licenses and license rights,  you may petition the superior court,  in the county in which the judgment that is the basis of this claim was rendered,  for a judicial review. To be timely,  you must file the petition with the court within thirty calendar days after receiving this notice.
AZ Rev Stat § 6-991.16 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-991.16 - Claimant's right to appeal denial of claim; service of notice of appeal; response; failure to file response

6-991.16.  Claimant's right to appeal denial of claim;  service of notice of appeal;  response;  failure to file response A. A claimant whose application is denied pursuant to section 6-991.15 may file within six months after receiving notice of a denial of the claim a verified application in the court in which judgment was entered in the claimant's favor for an order directing payment out of the mortgage recovery fund based on the grounds set forth in the claimant's application to the deputy director. B. The claimant must serve a copy of the verified application on the deputy director and on the judgment debtor and file a certificate or affidavit of service with the court. Service on the deputy director shall be made by certified mail addressed to the deputy director. Service on a judgment debtor shall be made pursuant to section 6-991.12 and shall include the following notice: NOTICE  An application has been filed with the court for a payment from the mortgage recovery fund that was previously denied by the deputy director of the financial institutions division of the department of insurance and financial institutions. If you wish to defend in court against this claim,  you must file a written response with the court within thirty calendar days after you are served with a copy of the application. If you fail to file a written response,  you waive your right to defend against the claim. C. The deputy director and the judgment debtor each must file a written response within thirty calendar days after being served with the application under subsection B of this section. The court shall set the matter for hearing on the petition of the claimant. The court shall grant a request of the deputy director for a continuance of as much as thirty calendar days and,  on a showing of good cause by any party,  may continue the hearing for a time that the court considers to be appropriate. D. At the hearing,  the claimant must establish compliance with the requirements of section 6-991.11. E. If the judgment debtor fails to file a written response to the application,  the deputy director may compromise or settle the claim at any time during the court proceedings and,  on joint petition of the applicant and the deputy director,  the court shall issue an order directing payment out of the mortgage recovery fund.
AZ Rev Stat § 6-991.17 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-991.17 - Deputy director's standing in court

6-991.17.  Deputy director's standing in court The deputy director may enter an appearance,  file an answer,  appear at the court hearing,  defend the action or take whatever other action the deputy director considers appropriate on behalf and in the name of the mortgage recovery fund and take recourse through any appropriate method of review on behalf of,  and in the name of,  the mortgage recovery fund.
AZ Rev Stat § 6-991.18 (2021)
2021 Arizona Revised Statutes|Title 6 - Banks and Financial Institutions|§ 6-991.18 - Subrogation of rights; collection

6-991.18.  Subrogation of rights;  collection A. Before receiving payment from the fund,  a claimant must complete and execute,  as judgment creditor,  an assignment of judgment lien and notice of subrogation and assignment of rights to the claimant's judgment on a form provided by the department. B. If the deputy director has paid from the mortgage recovery fund any sum to the judgment creditor,  the deputy director shall be subrogated to all of the rights of the judgment creditor and the judgment creditor shall assign all the rights,  title and interest in the judgment to the deputy director. The deputy director may record the assignment of judgment lien and notice of subrogation and assignment of rights. Any amount and interest recovered by the deputy director on the judgment shall be deposited in the fund. C. If the deputy director is subrogated to a claimant's rights as judgment creditor,  the claimant shall not file a full or partial satisfaction of judgment without the deputy director's prior written consent. D. The attorney general shall bring any actions to recover amounts paid from the fund,  including interest,  attorney fees and costs of collection,  pursuant to this article in the name of this state in the superior court in the county in which the violation occurred or in a county in which the deputy director maintains an office. A certified copy of a deputy director's order requiring payment from the fund may be filed in the office of the clerk of the superior court. The clerk shall treat the deputy director's order in the same manner as a judgment of the superior court. A deputy director's order so filed has the same effect and may be recorded,  enforced or satisfied in a similar manner,  as a judgment of the superior court. No filing fee is required under this subsection.