5 Del. Admin. Code § 2204-3.0

Current through Reigster Vol. 28, No. 6, December 1, 2024

Section 2204-3.0 - Bond for Mortgage Loan Originators

3.1 A licensee may use its surety bond under 5 Del.C. Ch. 22 to cover mortgage loan originators licensed under 5 5 Del.C. Ch. 22 and who are its employees or exclusive agents if the bond conforms to all requirements of 5 Del.C. § 2415 and § 12.0 of Regulation 2401.

3.2 A licensee's irrevocable letter of credit may not be used to cover mortgage loan originators.

3.3 A licensee shall notify the Commissioner in writing of the names of the mortgage loan originators who are covered by its surety bond and of any change in such coverage for those originators.

5 Del. Admin. Code § 2204-3.0

17 DE Reg. 994 (4/1/2014) (Final)