(a)

1. (1) If an applicant or licensee has a beneficial interest in a company that provides a service related to or in connection with the real estate procurement, settlement, or the closing of a mortgage loan, that beneficial interest and the affiliated business must be disclosed to the Securities Commissioner at the time of application.

2. (2) These services include, but are not limited to, the following:

   1. (A) Real estate services;
   2. (B) Title searches;
   3. (C) Title examinations;
   4. (D) Title certificates;
   5. (E) Title insurance;
   6. (F) Services rendered by an attorney;
   7. (G) Preparation of title documents;
   8. (H) Property surveys;
   9. (I) Credit reports;
   10. (J) Appraisals;
   11. (K) Insurance;
   12. (L) Home inspection services;
   13. (M) Escrow handling;
   14. (N) Underwriting or funding a loan;
   15. (O) Closing or settlement; and
   16. (P) Any other services which require a borrower or seller to pay.

(b)

1. (1) Beneficial interest includes an ownership interest or the control of a company.
2. (2) Beneficial interest shall also include a situation in which the applicant or licensee receives a gain from the affiliated business that is outside the normal course of business transactions.

(c)

1. (1) Nothing herein shall be construed to prohibit or authorize the applicant or licensee from using the affiliated business to provide services to a consumer.
2. (2) It is the licensee’s duty to obtain all necessary approvals, licenses, and permits, and to comply with all applicable state and federal legal and contractual requirements.