Wyoming Administrative Code
Agency 021 - Audit, Dept. of
Sub-Agency 0006 - Residential Mortgage Practices
Chapter 3 - LOAN ORIGINATOR LICENSING; FEES; INFORMATION CHALLENGE
Section 3-1 - Application/Licensing
Current through September 21, 2024
(a) Each mortgage loan originator applicant shall provide all of the information required on the license application form prescribed by the Commissioner, as applicable
(b) An application to obtain a mortgage loan originator license pursuant to W.S. 40-23-125 shall be considered "filed" only after all information and appropriate processing fees required have been received by the Commissioner.
(c) An application for a license is a continuing obligation up until approval and issuing of the license applied for. If information in an application becomes inaccurate after filing, the applicant shall promptly notify the Commissioner.
(d) A mortgage loan originator license is only active if the mortgage loan originator is sponsored by an exempt entity or a mortgage lender or mortgage broker licensed under the Wyoming Residential Mortgage Practices Act, and registered with the Nationwide Mortgage Licensing System. A mortgage loan originator can only be sponsored by and conduct business as a mortgage loan originator for only one company at any time.