West Virginia Residential Mortgage Lender, Broker and Servicer Act. | Midpage

Collections
West Virginia Code

17

West Virginia Residential Mortgage Lender, Broker and Servicer Act.

31-17-1Definitions and general provisions.31-17-2License required for lender and broker originator; exemptions.31-17-3Supervision by Commissioner of Financial Institutions; rules and regulations; personnel; participation in the Nationwide Multistate Licensing System and Registry.31-17-4Applications for licenses; requirements; bonds; fees; renewals; waivers and reductions; per loan fee.31-17-4aInformation requirements for certain individuals and change in control.31-17-5Refusal or issuance of license.31-17-6Minimum tangible net worth to be maintained; bond to be kept in full force and effect; foreign corporation to remain qualified to do business in this state.31-17-7License not transferable or assignable; license may not be franchised; renewal of license.31-17-8Maximum interest rate on subordinate loans; prepayment rebate; maximum points, fees and charges; overriding of federal limitations; limitations on lien documents; prohibitions on primary and subordinate mortgage loans; civil remedy.31-17-9Disclosure; closing statements; other records required; record-keeping requirements.31-17-10Advertising requirements.31-17-11Records and reports; examination of records; analysis.31-17-12Grounds for suspension or revocation of license; suspension and revocation generally; reinstatement or new license; penalties and fines for violation of this article.31-17-13Notice of refusal, or suspension or revocation, of license; relinquishing license.31-17-14Hearing before commissioner; provisions pertaining to hearing.31-17-15Judicial review.31-17-16Actions to enjoin violations.31-17-17Loans made in violation of this article void; agreements to waive article void.31-17-18Violations and penalties.31-17-19Severability.31-17-20Effective date.