Arizona Arizona Revised Statutes
§ 6-943 — Licensing of mortgage bankers required; qualifications; application; bond; fees; renewal
ARS § 6-943Title 6. Banks and Financial Institutions · Ch. 9. MORTGAGE BROKERS, MORTGAGE BANKERS AND LOAN ORIGINATORS · Art. 2. Mortgage Bankers
Statute text
View on source6-943. Licensing of mortgage bankers required; qualifications; application; bond; fees; renewal A. A person shall not act as a mortgage banker if the person is not licensed under this article. B. The deputy director shall not grant a mortgage banker's license to a person, other than a natural person, who is not registered to do business in this state on the date of application for a license. The deputy director shall not issue a mortgage banker's license or a renewal of a license to an applicant unless the applicant meets all of the requirements prescribed in subsection C of this section. The deputy director shall determine whether the applicant meets the requirements based on the application and evidence presented at a hearing, if any, or any other evidence that the deputy director may have regarding qualifications of the applicant. C. In order to qualify for a mortgage banker license or a renewal of a license, an applicant shall: 1. Have not fewer than three years' experience in the business of making mortgage banking loans or equivalent lending experience in a related business. If the applicant is a person other than a natural person, the responsible individual shall meet this requirement. 2. Have engaged or intend to engage in the business of making mortgage loans or mortgage banking loans. 3. Either:
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