(a) At the conclusion of the department‘s consideration of a claim made under Alaska Stat. § 06.60.570, the department shall issue a written report that provides the department’s findings of fact and conclusions of law.
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Terms Used In Alaska Statutes 06.60.680

  • department: means the Department of Commerce, Community, and Economic Development. See Alaska Statutes 06.60.990
  • Fraud: Intentional deception resulting in injury to another.
  • fund: means the mortgage loan originator surety fund established under Alaska Stat. 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.
  • person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
(b) If the department determines that the claimant has suffered a loss in a mortgage loan transaction as a result of fraud, misrepresentation, deceit, or the wrongful conversion of money by a mortgage loan originator licensee, the department may award the person who filed the fund claim reimbursement from money appropriated to the fund.
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