§ 1422.10. Surrender of License as a Mortgage Lender, Mortgage Broker or Mortgage Loan Originator.

(a) An application to surrender a license as a mortgage lender, mortgage broker, mortgage lender and broker, or mortgage loan originator shall be filed on Form(s) MU1, MU3, and MU4 through NMLS in accordance with its procedures for transmission to the Commissioner. Upon approval of the surrender by the Commissioner, a licensee shall amend every branch office application Form MU3 and terminate the sponsorship of all mortgage loan originators.

(b) To surrender a branch office license, a licensee shall file an amendment to Form MU3 in accordance with the instructions on the form for surrendering a branch office license.

HISTORY

1. New section filed 4-1-2010 as an emergency; operative 4-1-2010 (Register 2010, No. 14). A Certificate of Compliance must be transmitted to OAL by 9-28-2010 or emergency language will be repealed by operation of law on the following day.

2. New section refiled 9-28-2010 as an emergency; operative 9-28-2010 (Register 2010, No. 40). A Certificate of Compliance must be transmitted to OAL by 12-27-2010 or emergency language will be repealed by operation of law on the following day.

3. New section refiled 12-23-2010 as an emergency; operative 12-23-2010 (Register 2010, No. 52). A Certificate of Compliance must be transmitted to OAL by 3-23-2011 or emergency language will be repealed by operation of law on the following day.

4. Certificate of Compliance as to 12-23-2010 order, including amendment of subsection (a), transmitted to OAL 3-14-2011 and filed 4-25-2011; amendments operative 5-25-2011 (Register 2011, No. 17).

Note

Note: Authority cited: Section 22150, Financial Code. Reference: Sections 22107 and 22108, Financial Code.