Sec. 36a-496. (Formerly Sec. 36-440k). Applications and referrals from unlicensed mortgage brokers or loan originators.
Sec. 36a-496. (Formerly Sec. 36-440k). Applications and referrals from unlicensed mortgage brokers or loan originators. No person engaged in the business of
making mortgage loans in this state, whether licensed in accordance with the provisions
of sections 36a-485 to 36a-498a, inclusive, or exempt from licensing, shall accept applications or referral of applicants from, or pay a fee to, any mortgage broker or mortgage
loan originator who is required to be licensed under said sections but was not, as of the
time of the performance of such mortgage broker's or mortgage loan originator's services in connection with loans made or to be made by the mortgage lender or mortgage
correspondent lender, licensed to act as such by the commissioner, if the mortgage lender
or mortgage correspondent lender has actual knowledge that the mortgage broker or
mortgage loan originator was not licensed by the commissioner.
(P.A. 91-306, S. 2; P.A. 02-111, S. 12; P.A. 04-69, S. 9; P.A. 07-156, S. 13; P.A. 08-176, S. 31, 51.)
History: Sec. 36-440k transferred to Sec. 36a-496 in 1995; P.A. 02-111 extended prohibition to include accepting
applications or referrals of applications from, or payment of fees to, unregistered originators and replaced references to
"mortgage broker" with references to "first mortgage broker"; P.A. 04-69 substituted "36a-498a" for "36a-498"; P.A. 07-156 deleted references to "registered", effective September 30, 2008; P.A. 08-176 changed effective date of P.A. 07-156,
S. 13, from September 30, 2008, to July 1, 2008, added language re person not licensed at the time of performance of
services, added references to "mortgage correspondent lender" and made conforming changes, effective July 1, 2008.