1. (1) A mortgage loan originator who is sponsored by an entity may operate and advertise under the name of:

   1. (a) the entity;
   2. (b) a branch office registered under the license of the entity; or
   3. (c) another trade name registered under the license of the entity.

2. (2) A mortgage loan originator who operates or advertises under a name other than that of the entity by which the mortgage loan originator is sponsored:

   1. (a) shall exercise due diligence to verify that the name being used is properly registered under the entity license; and
   2. (b) shall not be immune from discipline if the individual conducts the business of residential mortgage loans on behalf of more than one entity, in violation of Section 61-2c-209(4)(b)(iii).

3. (3) An individual who holds a license as a mortgage loan originator may perform loan processing activities regardless of whether:

   1. (a) the individual's license is sponsored by a licensed entity at the time the loan processing activities are performed; or
   2. (b) the individual is employed by a licensed entity.

KEY: residential mortgage, loan origination, licensing, enforcement

Date of Last Change: March 24, 2026

Notice of Continuation: December 19, 2024

Authorizing, and Implemented or Interpreted Law: 61-2c-103(3); 61-2c-402(4)(a)