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2011 Vermont Code
Title 08 Banking and Insurance
Chapter 73 LICENSED LENDERS
§ 2208a Mortgage loan originator change of employer or sponsor


8 VT Stats § 2208a. (2011 through Adj Sess) What's This?

§ 2208a. Mortgage loan originator change of employer or sponsor

(a) No mortgage loan originator may be employed, supervised, and sponsored by more than one licensed lender or licensed mortgage broker operating in this state. Alternatively, a mortgage loan originator may be an individual sole proprietor who is also licensed as a lender or mortgage broker in this state.

(b) A mortgage loan originator shall notify the commissioner and update its status on the National Mortgage Licensing System and Registry within 15 days of any change in the employer and sponsor of the mortgage loan originator subsequent to the initial employer and sponsor. A fee of $50.00 payable to the commissioner shall accompany notice of such change of employer and sponsor. (Added 2009, No. 134 (Adj. Sess.), { 19.)

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