The commissioner shall not issue a mortgage loan originator license unless the commissioner makes at a minimum the following findings:

1. 1. The applicant has never had a mortgage loan originator license revoked in any governmental jurisdiction, except that a subsequent formal vacation of such revocation shall not be deemed a revocation.

2. 2. The applicant has not been charged pending trial, convicted, pled guilty, pled to lesser charges, or pled nolo contendere to, a felony in a domestic, foreign, or military court:

1. a. During the seven-year period preceding the date of the application for licensing and registration; or

2. b. At any time preceding such date of application, if such felony involved an act of fraud, dishonesty, or a breach of trust, or money laundering;

3. c. Provided that any pardon of a conviction shall not be a conviction for purposes of this subsection.

3. 3. a. The applicant has demonstrated financial responsibility, character, and general fitness such as to command the confidence of the community and to warrant a determination that the mortgage loan originator will operate honestly, fairly, and efficiently within the purposes of this chapter.

4. b. For purposes of this subsection, a person has shown that that person is not financially responsible when that person has shown a disregard in the management of that person's own financial condition. A determination that an individual has not shown financial responsibility may include:

1. (1) Current outstanding judgments, except judgments solely as a result of medical expenses;

2. (2) Current outstanding tax liens or other government liens and filings;

3. (3) Foreclosures within the past three years; and

4. (4) A pattern of seriously delinquent accounts within the past three years.

5. 4. The applicant has completed the prelicensing education requirement described in section 13-10-06.

6. 5. The applicant has passed a written test that meets the test requirement described in section 13-10-07.

7. 6. The applicant has met the net worth and surety bond requirements under section 13-10-13.