Surrender of License and Withdrawal of Application. On the Effective Date of this Agreement, Respondent agrees to the surrender of Respondent’s mortgage loan originator license or any MLO Activity Endorsement issued by each State Mortgage Regulator in the corresponding Participating State. On the Effective Date of this Agreement, Respondent further agrees to the withdrawal of any application for a mortgage loan originator license or MLO Activity Endorsement pending with each State Mortgage Regulator in the corresponding Participating State. This surrender will go into effect on or after the effective date of this agreement as processed and reflected through the NMLS. Respondent further agrees that Respondent will not apply for a new mortgage loan originator license or, as applicable, petition for the reinstatement of any MLO Activity Endorsement in any of the Participating States for a period of three months from the Effective Date of this Agreement. Should the Respondent apply for such a license or petition for the reinstatement of an MLO Activity Endorsement during that three-month period, that license application or MLO Activity Endorsement petition, as consented to by the Respondent herein, shall be deemed denied.
Appears in 78 contracts
Samples: Settlement Agreement and Consent Order, Settlement Agreement, Settlement Agreement and Consent Order
