DAR File No. 38992
This notice was published in the January 1, 2015, issue (Vol. 2015, No. 1) of the Utah State Bulletin.
Financial Institutions, Nondepository Lenders
Rule R343-7
Mortgage Loan Originator Education and Written Test Requirements
Five-Year Notice of Review and Statement of Continuation
DAR File No.: 38992
Filed: 12/04/2014 09:44:08 AM
NOTICE OF REVIEW AND STATEMENT OF CONTINUATION
Concise explanation of the particular statutory provisions under which the rule is enacted and how these provisions authorize or require the rule:
Under Sections 70D-3-301, 70D-3-302, and 70D-3-303, the department must establish education and written test requirements for mortgage loan originators who are required to be licensed under Title 70D.
Summary of written comments received during and since the last five-year review of the rule from interested persons supporting or opposing the rule:
No supporting or opposing written comments have been received since the last notice of continuation.
Reasoned justification for continuation of the rule, including reasons why the agency disagrees with comments in opposition to the rule, if any:
An applicant must satisfy pre-licensing education and written testing requirements to be eligible to apply for a mortgage loan originator license under Title 70D. This rule establishes these requirements. Therefore, this rule should be continued.
The full text of this rule may be inspected, during regular business hours, at the Division of Administrative Rules, or at:
Financial InstitutionsNondepository LendersRoom 201
324 S STATE ST
SALT LAKE CITY, UT 84111-2393
Direct questions regarding this rule to:
- Paul Allred at the above address, by phone at 801-538-8854, by FAX at 801-538-8894, or by Internet E-mail at [email protected]
Effective:
12/04/2014
Authorized by:
Edward Leary, Commissioner
Additional Information
More information about a Five-Year Notice of Review and Statement of Continuation is available online.
The Portable Document Format (PDF) version of the Bulletin is the official version. The PDF version of this issue is available at https://rules.utah.gov/publicat/bull-pdf/2015/b20150101.pdf. The HTML edition of the Bulletin is a convenience copy. Any discrepancy between the PDF version and HTML version is resolved in favor of the PDF version.
For questions regarding the content or application of this rule, please contact Paul Allred at the above address, by phone at 801-538-8854, by FAX at 801-538-8894, or by Internet E-mail at [email protected]. For questions about the rulemaking process, please contact the Division of Administrative Rules.