808 KAR 12:085. Registration of mortgage loan officer/broker.

      RELATES TO: KRS 286.8-090, 286.8-255, 286.8-265

      STATUTORY AUTHORITY: KRS 286.8-140(1)

      NECESSITY, FUNCTION, AND CONFORMITY: KRS 286.8-140(1) authorizes the executive director to promulgate administrative regulations necessary to accomplish the basic purposes of KRS Chapter 286.8. KRS 286.8-255(1) requires all mortgage loan brokers and mortgage loan officers to register with the Office of Financial Institutions in order to originate mortgage loans in Kentucky. This administrative regulation establishes procedures for registration of mortgage loan brokers and mortgage loan officers with the office.

      Section 1. (1) An applicant for registration as a mortgage loan broker or mortgage loan officer shall register with the office by filing an "Application for Registration of a Mortgage Loan Officer or Mortgage Loan Broker" form with the office.

      (2) An applicant shall agree to an FBI criminal background check in compliance with KRS 286.8-090.

      Section 2. Incorporation by Reference. (1) "Application for Registration of a Mortgage Loan Officer or Mortgage Loan Broker, 2003 edition" is incorporated by reference.

                (2) This material may be inspected, copied, or obtained, subject to applicable copyright law, at the Office of Financial Institutions, 1025 Capital Center Drive, Suite 200, Frankfort, Kentucky 40601, Monday through Friday, 8 a.m. to 4:30 p.m. (30 Ky.R. 1895; 3-18-2004.)