Alaska Statutes 06.60.157 – Restrictions on mortgage licensee’s performance of mortgage loan originator activities
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Terms Used In Alaska Statutes 06.60.157
- Contract: A legal written agreement that becomes binding when signed.
- licensed mortgage loan originator: means a person who holds a mortgage loan originator license issued under this chapter. See Alaska Statutes 06.60.990
- licensee: means a person who holds a license issued under this chapter. See Alaska Statutes 06.60.990
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- mortgage licensee: means a person who holds a mortgage license. See Alaska Statutes 06.60.990
- Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
- mortgage loan: means a residential mortgage loan. See Alaska Statutes 06.60.990
A mortgage licensee may not perform mortgage loan originator activities except through a licensed mortgage loan originator who is an employee of or under exclusive contract with a mortgage licensee.