Alaska Administrative Code
Title 3 - Commerce, Community, and Economic Development
Part 1 - Banking, Securities, Small Loans and Corporations
Chapter 14 - Mortgage Lending
Article 1 - Licensing
3 AAC 14.063 - Financial responsibility required to obtain and maintain licensure

(a) The department will consider an applicant or licensee financially responsible under AS 06.60.060(2)(C), if the applicant or licensee has a credit score of 600 or a higher score on the credit report obtained under AS 06.60.027(c).

(b) If the credit score of an applicant or licensee is less than 600, to determine financial responsibility under AS 06.60.060(2)(C), the department will review evidence of the applicant's or licensee's financial responsibility, including

(c) The department will notify the applicant or licensee through the registry that the credit history of the applicant or licensee is under review and that the applicant or licensee may request a copy of the credit report and submit to the department a written explanation of adverse information in the credit report no later than 21 days after the date the notice that the credit history is under review is posted in the registry.