reglab/housing_qa huggingface dataset:
5 DE Code § 2408. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 24. Mortgage Loan Originators|§ 2408. Testing.

§ 2408. Testing. (a) In order to meet the written test requirement referred to in § 2406(a)(5) of this title, an individual shall pass, in accordance with the standards established under this section, a qualified written test developed by the Nationwide Mortgage Licensing System and Registry and administered by a test provider approved by the Nationwide Mortgage Licensing System and Registry based upon reasonable standards. (b) A written test shall not be treated as a qualified written test for purposes of subsection (a) of this section unless the test adequately measures the applicant's knowledge and comprehension in appropriate subject areas, including:  (1) Ethics; (2) Federal law and regulation pertaining to mortgage origination; (3) State law and regulation pertaining to mortgage origination; and (4) Federal and state law and regulation, including instruction on fraud, consumer protection, the nontraditional mortgage marketplace, and fair lending issues. (c) Nothing in this section shall prohibit a test provider approved by the Nationwide Mortgage Licensing System and Registry from providing a test at the location of the employer of the applicant or the location of any subsidiary or affiliate of the employer of the applicant, or the location of any entity with which the applicant holds an exclusive arrangement to conduct the business of a mortgage loan originator. (d) (1) An individual shall not be considered to have passed a qualified written test unless the individual achieves a test score of not less than 75 percent correct answers to questions. (2) An individual may retake a test 3 consecutive times with each consecutive taking occurring at least 30 days after the preceding test. (3) After failing 3 consecutive tests, an individual shall wait at least 6 months before taking the test again. (4) A licensed mortgage loan originator who fails to maintain a valid license for a period of 5 years or longer shall retake the test, not taking into account any time during which such individual is a registered mortgage loan originator.77 Del. Laws, c. 96, §  1;
5 DE Code § 2409. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 24. Mortgage Loan Originators|§ 2409. Standards for license renewal.

§ 2409. Standards for license renewal. (a) Every licensee who desires to continue to engage in the business of a mortgage loan originator with respect to any dwelling located in this State shall, at least 30 days prior to the expiration of a license, apply to the Commissioner for a license renewal in a form as prescribed by the Commissioner. Each such form shall request such information as the Commissioner may designate and may be changed or updated as necessary by the Commissioner in order to carry out the purposes of this chapter. (b) The minimum standards for license renewal for mortgage loan originators shall include the following:  (1) The mortgage loan originator continues to meet the minimum standards for license issuance under § 2406(a)(1)-(6) of this title; (2) The mortgage loan originator has satisfied the annual continuing education requirements described in § 2410 of this title; and (3) The mortgage loan originator has paid all required fees for renewal of the license. (c) The Commissioner may mandate that an application for a license renewal shall be treated as a new application if the renewal application is not on file with the office of the Commissioner at least 30 days prior to the expiration of the license. 76 Del. Laws, c. 421, §  1;  70 Del. Laws, c. 186, §  1;  77 Del. Laws, c. 96, §  1;
5 DE Code § 2410. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 24. Mortgage Loan Originators|§ 2410. Continuing education.

§ 2410. Continuing education. (a) In order to meet the annual continuing education requirements referred to in § 2409(b)(2) of this title, a licensed mortgage loan originator shall complete at least 8 hours of education approved in accordance with subsection (b) of this section, which shall include at least:  (1) Three hours of federal law and regulations;  (2) Two hours of ethics, which shall include instruction on fraud, consumer protection, and fair lending issues; and (3) Two hours of training related to lending standards for the nontraditional mortgage product marketplace.  (b) For purposes of subsection (a) of this section, continuing education courses shall be reviewed, and approved by the Nationwide Mortgage Licensing System and Registry based upon reasonable standards. Review and approval of a continuing education course shall include review and approval of the course provider. (c) Nothing in this section shall preclude any education course, as approved by the Nationwide Mortgage Licensing System and Registry, that is provided by the employer of the mortgage loan originator or an entity which is affiliated with the mortgage loan originator by an agency contract, or any subsidiary or affiliate of such employer or entity. (d) Continuing education may be offered either in a classroom, online or by any other means approved by the Nationwide Mortgage Licensing System and Registry. (e) A licensed mortgage loan originator:  (1) Except as provided in subsection (h) of this section, may only receive credit for a continuing education course in the year in which the course is taken; and (2) May not take the same approved course in the same or successive years to meet the annual requirements for continuing education. (f) A licensed mortgage loan originator who is an approved instructor of an approved continuing education course may receive credit for the licensed mortgage loan originator's own annual continuing education requirement at the rate of 2 hours credit for every 1 hour taught. (g) The continuing education requirements approved by the Nationwide Mortgage Licensing System and Registry in subsection (a) of this section for any other state shall be accepted as credit towards completion of the continuing education requirements in this State. (h) A licensed mortgage loan originator who subsequently becomes unlicensed must complete the continuing education requirements for the last year in which the license was held prior to issuance of a new or renewed license. (i) A person meeting the requirements of § 2409(b)(1) and (3) of this title may make up any deficiency in continuing education as established by rule or regulation of the Commissioner. 76 Del. Laws, c. 421, §  1;  77 Del. Laws, c. 96, §  1;
5 DE Code § 2411. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 24. Mortgage Loan Originators|§ 2411. Authority to require license.

§ 2411. Authority to require license. (a) In addition to any other duties imposed upon the Commissioner by law, the Commissioner shall require mortgage loan originators to be licensed and registered through the Nationwide Mortgage Licensing System and Registry. (b) In order to carry out this requirement, the Commissioner is authorized to participate in the Nationwide Mortgage Licensing System and Registry. Notwithstanding any other statute to the contrary, the Commissioner may, for this purpose, establish by rule, regulation or order requirements as necessary, including but not limited to:  (1) Background checks for:  a. Criminal history through fingerprint or other databases; b. Civil or administrative records; c. Credit history; or d. Any other information as deemed necessary by the Nationwide Mortgage Licensing System and Registry; (2) The payment of fees to apply for or renew licenses through the Nationwide Mortgage Licensing System and Registry; (3) The setting or resetting as necessary of renewal or reporting dates; and (4) Requirements for amending or surrendering a license or any other such activities as the Commissioner deems necessary for participation in the Nationwide Mortgage Licensing System and Registry.76 Del. Laws, c. 421, §  1;  77 Del. Laws, c. 96, §  1;
5 DE Code § 2412. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 24. Mortgage Loan Originators|§ 2412. Nationwide mortgage licensing system and registry information challenge process.

§ 2412. Nationwide mortgage licensing system and registry information challenge process. The Commissioner shall establish a process whereby mortgage loan originators may challenge information entered into the Nationwide Mortgage Licensing System and Registry by the Commissioner. 77 Del. Laws, c. 96, §  1;
5 DE Code § 2413. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 24. Mortgage Loan Originators|§ 2413. License revocation or suspension.

§ 2413. License revocation or suspension. (a) The Commissioner may revoke, suspend, condition, or refuse to renew any license, or publicly reprimand a licensee under this chapter upon finding that the licensee:  (1) Has violated or failed to comply with any provision of this chapter; any rule, regulation, order, or supervisory letter promulgated by the Commissioner under the authority of this title; or any other law, rule or regulation of this State or the federal government; (2) Has failed at any time to meet the requirements of § 2406 or § 2409 of this title; or (3) Has withheld information or made a material misstatement in an initial or renewal application for a license. (b) Whenever the Commissioner determines to take any action under this section, the Commissioner shall issue a written order that shall include a statement of the facts upon which the action is based and a notice that the licensee may request a hearing in accordance with Chapter 101 of Title 29. (c) (1) Except as provided in paragraph (c)(2) of this section, an order under this section shall not become effective less than 10 days after its mailing date. (2) The Commissioner may issue an order under this section which shall become effective immediately upon issuance whenever in the opinion of the Commissioner, the public health, safety or welfare clearly requires emergency action and the Commissioner's order so states. (d) (1) Upon its issuance, the Commissioner shall send a copy of the order to the licensee at that person's last known mailing address by certified mail, return receipt requested. (2) If the licensee sends the Commissioner a written request for a hearing within 10 days of the order's mailing date, the Commissioner shall then hold a hearing in accordance with Chapter 101 of Title 29, and except as provided in paragraph (c)(2) of this section, the order then shall not become effective until the conclusion of the hearing. (3) At the conclusion of the hearing, the Commissioner may affirm the order as originally issued, or modify, amend or rescind the order. (e) No action taken under this section shall impair or affect the obligation of any preexisting lawful contract between any licensee and any person. 76 Del. Laws, c. 421, §  1;  77 Del. Laws, c. 96, §  1;
5 DE Code § 2415. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 24. Mortgage Loan Originators|§ 2415. Surety bond required.

§ 2415. Surety bond required. (a) Each mortgage loan originator shall be covered by a surety bond in accordance with this section. In the event that the mortgage loan originator is an employee or exclusive agent of a licensee under Chapter 21 or 22 of this title, the surety bond of the licensee under those chapters can be used in lieu of the mortgage loan originator's surety bond requirement, and in that event, the amount of the bond prescribed in this section, if greater, shall apply instead of the limits specified in those chapters. (1) The surety bond shall provide coverage for each mortgage loan originator in an amount as prescribed in subsection (b) of this section. (2) The surety bond shall be in a form as prescribed by the Commissioner. (3) The Commissioner may promulgate rules or regulations with respect to the requirements for such surety bonds as are necessary to accomplish the purposes of this chapter. (b) The penal sum of the surety bond shall be maintained in an amount that reflects the dollar amount of loans originated as determined by the Commissioner. (c) When an action is commenced on a licensee's bond the Commissioner may require the filing of a new bond. (d) Immediately upon recovery upon any action on the bond, the licensee shall file a new bond. 77 Del. Laws, c. 96, §  1;
5 DE Code § 2416. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 24. Mortgage Loan Originators|§ 2416. Confidentiality.

§ 2416. Confidentiality. In order to promote more effective regulation and reduce regulatory burden through supervisory information sharing:  (1) Except as otherwise provided in United States Public Law 110-289, § 1512 [12 U.S.C. § 5111], the requirements under any federal or state law regarding the privacy or confidentiality of any information or material obtained by or provided to the Nationwide Mortgage Licensing System and Registry pursuant to this chapter, and any privilege arising under federal or state law (including the rules of any federal or state court) with respect to such information or material, shall continue to apply to such information or material after the information or material has been disclosed to the Nationwide Mortgage Licensing System and Registry. Such information and material may be shared with all state and federal regulatory officials with mortgage industry oversight authority without the loss of privilege or the loss of confidentiality protections provided by federal or state law. (2) For these purposes, the Commissioner is authorized to enter agreements or sharing arrangements with other governmental agencies, the Conference of State Bank Supervisors, the American Association of Residential Mortgage Regulators or other associations representing governmental agencies. (3) Information or material that is subject to a privilege or confidentiality under paragraph (1) of this section shall not be subject to:  a. Disclosure under any federal or state law governing the disclosure to the public of information held by an officer or an agency of the federal government or the respective state; or b. Subpoena or discovery, or admission into evidence, in any private civil action or administrative process, unless with respect to any privilege held by the Nationwide Mortgage Licensing System and Registry with respect to such information or material, the person to whom such information or material pertains waives, in whole or in part, in the discretion of such person, that privilege. (4) Any state law relating to the disclosure or confidentiality of any information or material described in this section, including § 8527 of Title 11, that is inconsistent with this section shall be superseded. (5) This section shall not apply with respect to the information or material relating to the employment history of, and publicly adjudicated disciplinary and enforcement actions against, mortgage loan originators that is included in the Nationwide Mortgage Licensing System and Registry for access by the public.77 Del. Laws, c. 96, §  1;
5 DE Code § 2418. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 24. Mortgage Loan Originators|§ 2418. Prohibited acts and practices.

§ 2418. Prohibited acts and practices. It is a violation of this chapter for a person subject to this chapter to:  (1) Directly or indirectly employ any scheme, device, or artifice to defraud or mislead borrowers or lenders or to defraud any person; (2) Engage in any unfair or deceptive practice toward any person; (3) Obtain property by fraud or misrepresentation; (4) Solicit or enter into a contract with a borrower that provides in substance that the person subject to this chapter may earn a fee or commission through “best efforts” to obtain a loan even though no loan is actually obtained for the borrower; (5) Solicit, advertise, or enter into a contract for specific interest rates, points, or other financing terms unless the terms are actually available at the time of soliciting, advertising, or contracting; (6) Conduct any business covered by this chapter without holding a valid license as required under this chapter, or assist or aid and abet any person in the conduct of business under this chapter without a valid license as required under this chapter; (7) Fail to make disclosures as required by this chapter and any other applicable federal or state law including regulations thereunder; (8) Fail to comply with this chapter or rules or regulations promulgated under this chapter, or fail to comply with any other federal or state law, including the rules and regulations thereunder, applicable to any business authorized or conducted under this chapter; (9) Make, in any manner, any false or deceptive statement or representation, or engage in “bait and switch” advertising; (10) Negligently make any false statement or knowingly and wilfully make any omission of material fact in connection with any information or reports filed with a governmental agency or the Nationwide Mortgage Licensing System and Registry or in connection with any investigation or examination conducted by the Commissioner or another governmental agency; (11) Make any payment, threat or promise, directly or indirectly, to any person for the purposes of influencing the independent judgment of the person in connection with a residential mortgage loan, or make any payment threat or promise, directly or indirectly, to any appraiser of a property, for the purposes of influencing the independent judgment of the appraiser with respect to the value of the property; (12) Collect, charge, attempt to collect or charge or use or propose any agreement purporting to collect or charge any fee prohibited by this chapter; (13) Cause or require a borrower to obtain property insurance coverage in an amount that exceeds the replacement cost of the improvements as established by the property insurer; or (14) Fail to truthfully account for monies belonging to a party to a residential mortgage loan transaction.77 Del. Laws, c. 96, §  1;
5 DE Code § 2419. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 24. Mortgage Loan Originators|§ 2419. Report to nationwide mortgage licensing system and registry.

§ 2419. Report to nationwide mortgage licensing system and registry. Notwithstanding any state privacy law, the Commissioner is required to report regularly violations of this chapter, as well as enforcement actions and other relevant information, to the Nationwide Mortgage Licensing System and Registry subject to the provisions contained in § 2416 of this title. 77 Del. Laws, c. 96, §  1;
5 DE Code § 2420. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 24. Mortgage Loan Originators|§ 2420. Unique identifier shown.

§ 2420. Unique identifier shown. The unique identifier of any person originating a residential mortgage loan shall be clearly shown on all residential mortgage loan application forms, solicitations or advertisements, including business cards or websites, and any other documents as established by rule, regulation or order of the Commissioner. 77 Del. Laws, c. 96, §  1;
5 DE Code § 2421. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 24. Mortgage Loan Originators|§ 2421. Recordkeeping.

§ 2421. Recordkeeping. Every licensee shall maintain such books, accounts and records as will enable the Commissioner to enforce full compliance with this chapter, which books, accounts and records shall be in such form, shall contain such information and shall be kept in such manner as the Commissioner may require. Such records shall be kept at such place and shall be preserved for such length of time as the Commissioner may specify. 76 Del. Laws, c. 421, §  1;  77 Del. Laws, c. 96, §  1;
5 DE Code § 2422. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 24. Mortgage Loan Originators|§ 2422. Broad administrative authority.

§ 2422. Broad administrative authority. The Commissioner shall have the broad administrative authority to administer, interpret and enforce this chapter, and to promulgate rules or regulations implementing this chapter, in order to carry out the intentions of the General Assembly. 77 Del. Laws, c. 96, §  1;
5 DE Code § 2423. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 24. Mortgage Loan Originators|§ 2423. Penalty.

§ 2423. Penalty. Violation of § 2404 of this title is a class A misdemeanor. 77 Del. Laws, c. 96, §  1;
5 DE Code § 2903. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 29. Financing the Sale of Motor Vehicles|§ 2903. Renewal of license.

§ 2903. Renewal of license. Every holder of a license or a renewal thereof, as provided for in this section, desiring to continue the transaction of business as provided for in this chapter, shall at least 30 days prior to the expiration of such license or renewal thereof make application to the Commissioner on forms to be provided by the Commissioner for a license renewal. The Commissioner may mandate that applications for renewal shall be treated as new applications if said renewal applications are not on file with the office of the State Bank Commissioner at least 30 days prior to the expiration of such license or renewal thereof. Licensees who have not complied with supervisory letters or who have not paid any supervisory assessment or examination fees when due may be refused license renewal. 70 Del. Laws, c. 6, §  14;  70 Del. Laws, c. 327, §  42;
5 DE Code § 2904. (2021)
2021 Delaware Code|Title 5 - Banking|Chapter 29. Financing the Sale of Motor Vehicles|§ 2904. Suspension, revocation or surrender of license.

§ 2904. Suspension, revocation or surrender of license. (a) The Commissioner may revoke any license issued hereunder upon finding that:  (1) The licensee has violated any provision of this chapter or any rule or regulation made by the Commissioner under and within the authority of this chapter or of any other law, rule or regulation of this State or the United States; (2) Any fact or condition exists which, if it had existed at the time of the original application for such license, would have warranted the Commissioner in refusing originally to issue such license; or (3) The licensee has engaged in business activities or practices, in connection with any business for which a license is required under this chapter, which could be deemed unfair or deceptive by nature of intent. Such activities and practices include, but are not limited to, the use of tactics which mislead the consumer, misrepresent the consumer transaction or any part thereof, or otherwise create false expectations on the part of the consumer. (b) The Commissioner may temporarily suspend any license pending the issuance of a final order as provided in Chapter 101 of Title 29. (c) Except as provided in subsection (b) of this section, no license shall be revoked or suspended except after notice and an opportunity for the licensee to request a hearing in accordance with Chapter 101 of Title 29. (d) Any licensee may surrender any license by delivering to the Commissioner such license together with written notice that it thereby surrenders such license, but such surrender shall not affect such licensee's civil or criminal liability for acts committed prior to such surrender. (e) No revocation, suspension or surrender of any license shall impair or affect the obligation of any preexisting lawful contract between the licensee and any person. (f) Every license issued hereunder shall remain in force and effect until the same shall have expired or shall have been surrendered, revoked or suspended in accordance with this chapter, but the Commissioner shall have authority to reinstate a suspended license or to issue a new license to a licensee whose license shall have been revoked if no fact or condition then exists which would have warranted the Commissioner in refusing originally to issue such license under this chapter. (g) Whenever the Commissioner shall revoke or suspend a license issued pursuant to this chapter, the Commissioner shall forthwith execute a written order to that effect. The Commissioner shall forthwith serve the written order upon the licensee. Any such order may be reviewed in the manner provided by Chapter 101 of Title 29. 5 Del. C. 1953, §  2903;  52 Del. Laws, c. 335, §  1;  57 Del. Laws, c. 740, §  25B;  70 Del. Laws, c. 6, §  14;  70 Del. Laws, c. 186, §  1;  73 Del. Laws, c. 24, §  15;  77 Del. Laws, c. 126, §  7;