Section 3.14.415. Supervision required.

Latest version.

	(a)  A mortgage licensee shall supervise all operations and personnel at its principal office and any branch offices to insure compliance with AS 06.60  and this chapter. The mortgage licensee shall diligently supervise each person operating as a mortgage loan originator for the mortgage licensee, whether under an exclusive contract or as an employee.  
	(b)  The mortgage licensee shall  
		(1) establish, maintain, and enforce procedures to supervise the activities of all personnel, including persons operating as mortgage loan originators on behalf of the mortgage licensee;  
		(2) monitor and review the activities of all personnel at each business location, including persons operating as mortgage loan originators on behalf of the mortgage licensee, to insure compliance with AS 06.60  and this chapter; and  
		(3) ensure that each mortgage loan originator working on behalf of the mortgage licensee has the training and education needed to comply with AS 06.60  and this chapter.

Authorities

06.60.012;06.60.159;06.60.910

Notes

Authority
 AS 06.60.012  
AS 06.60.159  
AS 06.60.910  
History Eff. 7/1/2008, Register 186; am 12/4/2010, Register 196

                    
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