TITLE 38: FINANCIAL INSTITUTIONS
CHAPTER II: DEPARTMENT OF FINANCIAL AND PROFESSIONAL REGULATION
PART 1050 RESIDENTIAL MORTGAGE LICENSE ACT OF 1987
SECTION 1050.2110 APPLICATION FOR REGISTRATION
Section 1050.2110 Application for Registration
a) Each applicant for registration as a Loan Originator shall file with the Division a completed, signed application, on forms supplied by the Division, that includes:
1) a clear copy of a state identification card containing a current photo;
2) a complete work history for the 3 years immediately preceding the date of application;
3) the name, address, phone number and license number of the licensee that the applicant is or will be employed as a Loan Originator and the start date of employment or prospective employment;
4) verification of fingerprint processing from the Illinois Department of State Police, or its designated agent for fingerprint processing, that complies with the form and manner for requesting and furnishing criminal history record information prescribed by the Department of State Police. These fingerprints shall be verified with the Department of State Police and Federal Bureau of Investigation criminal history record databases;
5) proof of passage of the examination or qualification for an exemption specified in Section 1050.2115;
6) verification that the applicant has not been convicted of any criminal offense, including a misdemeanor or felony, or has not been subject to any adverse judgment involving financial crimes or a criminal or civil act involving monies, breach of trust, moral turpitude, or misfeasance or malfeasance, or a detailed explanation describing fully all convictions and adverse judgements;
7) A statement that the applicant is in compliance with Sections 1050.2165, 1050.2185, 1050.2190, and 1050.2195.
8) certification from the employing licensee of the name of the Loan Originator, office location where employed, and employment hire date, which shall be electronically submitted to the Division's website;
9) the required fees set forth in Section 1050.245 of this Part.
b) If an applicant has held or holds any professional license in another jurisdiction, certification of that registration must be submitted to the Division directly from the state or territory in which the applicant was licensed stating whether the file on the applicant contains any record of disciplinary actions taken or pending.
c) The Director shall consider an application for registration withdrawn if it does not contain all of the information required under subsection (a) and if the information is not submitted to the Director within 15 business days after the Director requests the information.
d) If any information changes after the filing of the initial application, the applicant shall provide updated information in writing within 30 calendar days to the Division. Failure to provide updated material may result in a fine of $50 per violation for the initial failure and $100 per violation for each additional failure.
(Source: Amended at 29 Ill. Reg. 19187, effective November 10, 2005)