{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-1712.1.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-1712.1.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-1712.1.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-1712.1.html"}],"law_id":74171,"edition_id":1,"section_id":74171,"structure_id":14519,"section_number":"6.2-1712.1","catch_line":"Inactive mortgage loan originator licenses","history":"2016, c. 330; 2019, c. 740.","full_text":"A\n\nNotwithstanding any other provision of this chapter, if the Commission finds that an individual has applied for a mortgage loan originator license and meets all applicable requirements for licensure except § 6.2-1703, then the Commission shall issue a mortgage loan originator license to the applicant. However, the license issued by the Commission shall be inactive by operation of law until the Commission has updated the licensee’s status in the Registry pursuant to subsection D.B\n\nNotwithstanding any other provision of this chapter, if the Commission finds that an individual has requested renewal of his mortgage loan originator license in accordance with subsection C of § 6.2-1711 and meets all applicable requirements for license renewal except § 6.2-1703, then the Commission shall renew the individual’s mortgage loan originator license. However, the license renewed by the Commission shall be inactive by operation of law until the Commission has updated the licensee’s status in the Registry pursuant to subsection D.C\n\nIf at any time a licensee ceases to be covered by a surety bond meeting the requirements of § 6.2-1703, then the individual’s license shall be inactive by operation of law until the Commission has updated the licensee’s status in the Registry pursuant to subsection D.D\n\nIf a licensee’s mortgage loan originator license is inactive by operation of law pursuant to this section, then the licensee shall not engage in the business of a mortgage loan originator until (i) the Commission has determined that the licensee is covered by a surety bond meeting the requirements of § 6.2-1703 and (ii) based upon its determination, the Commission has updated the licensee’s status in the Registry to indicate that the licensee may engage in the business of a mortgage loan originator.","order_by":null,"text":{"0":{"id":266708,"text":"Notwithstanding any other provision of this chapter, if the Commission finds that an individual has applied for a mortgage loan originator license and meets all applicable requirements for licensure except § 6.2-1703, then the Commission shall issue a mortgage loan originator license to the applicant. However, the license issued by the Commission shall be inactive by operation of law until the Commission has updated the licensee’s status in the Registry pursuant to subsection D.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":266709,"text":"Notwithstanding any other provision of this chapter, if the Commission finds that an individual has requested renewal of his mortgage loan originator license in accordance with subsection C of § 6.2-1711 and meets all applicable requirements for license renewal except § 6.2-1703, then the Commission shall renew the individual’s mortgage loan originator license. However, the license renewed by the Commission shall be inactive by operation of law until the Commission has updated the licensee’s status in the Registry pursuant to subsection D.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":266710,"text":"If at any time a licensee ceases to be covered by a surety bond meeting the requirements of § 6.2-1703, then the individual’s license shall be inactive by operation of law until the Commission has updated the licensee’s status in the Registry pursuant to subsection D.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":266711,"text":"If a licensee’s mortgage loan originator license is inactive by operation of law pursuant to this section, then the licensee shall not engage in the business of a mortgage loan originator until (i) the Commission has determined that the licensee is covered by a surety bond meeting the requirements of § 6.2-1703 and (ii) based upon its determination, the Commission has updated the licensee’s status in the Registry to indicate that the licensee may engage in the business of a mortgage loan originator.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C"}},"ancestry":[{"id":14519,"edition_id":1,"name":"Mortgage Loan Originators","identifier":"17","label":"chapter","depth":3,"order_by":1,"parent_id":13060,"metadata":{},"date_created":"2026-06-26 03:48:29","date_modified":"2026-06-26 03:48:29","permalink":{"id":266129,"object_type":"structure","relational_id":14519,"identifier":"17","token":"6.2\/III\/17","url":"\/6.2\/III\/17\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13060,"edition_id":1,"name":"Other Regulated Providers of Financial Services","identifier":"III","label":"subtitle","depth":2,"order_by":1,"parent_id":12852,"metadata":{},"date_created":"2026-06-26 03:44:12","date_modified":"2026-06-26 03:44:12","permalink":{"id":265721,"object_type":"structure","relational_id":13060,"identifier":"III","token":"6.2\/III","url":"\/6.2\/III\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12852,"edition_id":1,"name":"Financial Institutions and Services","identifier":"6.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":263249,"object_type":"structure","relational_id":12852,"identifier":"6.2","token":"6.2","url":"\/6.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":70948,"structure_id":14519,"section_number":"6.2-1700","catch_line":"Definitions","url":"\/6.2-1700\/","token":"6.2\/III\/17\/6.2-1700","metadata":false},{"id":68765,"structure_id":14519,"section_number":"6.2-1701","catch_line":"License requirement","url":"\/6.2-1701\/","token":"6.2\/III\/17\/6.2-1701","metadata":false},{"id":85304,"structure_id":14519,"section_number":"6.2-1701.1","catch_line":"Bona fide nonprofit organizations","url":"\/6.2-1701.1\/","token":"6.2\/III\/17\/6.2-1701.1","metadata":false},{"id":55948,"structure_id":14519,"section_number":"6.2-1701.2","catch_line":"Repealed","url":"\/6.2-1701.2\/","token":"6.2\/III\/17\/6.2-1701.2","metadata":false},{"id":74984,"structure_id":14519,"section_number":"6.2-1701.3","catch_line":"Temporary authority to act as a mortgage loan originator","url":"\/6.2-1701.3\/","token":"6.2\/III\/17\/6.2-1701.3","metadata":false},{"id":74815,"structure_id":14519,"section_number":"6.2-1702","catch_line":"Application for license; form; content; fee","url":"\/6.2-1702\/","token":"6.2\/III\/17\/6.2-1702","metadata":false},{"id":60886,"structure_id":14519,"section_number":"6.2-1703","catch_line":"Bond required","url":"\/6.2-1703\/","token":"6.2\/III\/17\/6.2-1703","metadata":false},{"id":63021,"structure_id":14519,"section_number":"6.2-1704","catch_line":"Mortgage loan originator background checks","url":"\/6.2-1704\/","token":"6.2\/III\/17\/6.2-1704","metadata":false},{"id":80126,"structure_id":14519,"section_number":"6.2-1705","catch_line":"Coordination of licensing","url":"\/6.2-1705\/","token":"6.2\/III\/17\/6.2-1705","metadata":false},{"id":76977,"structure_id":14519,"section_number":"6.2-1706","catch_line":"Qualifications","url":"\/6.2-1706\/","token":"6.2\/III\/17\/6.2-1706","metadata":false},{"id":57179,"structure_id":14519,"section_number":"6.2-1707","catch_line":"Other conditions for mortgage loan originator licensing","url":"\/6.2-1707\/","token":"6.2\/III\/17\/6.2-1707","metadata":false},{"id":74630,"structure_id":14519,"section_number":"6.2-1708","catch_line":"Pre-licensing education of mortgage loan originators","url":"\/6.2-1708\/","token":"6.2\/III\/17\/6.2-1708","metadata":false},{"id":86756,"structure_id":14519,"section_number":"6.2-1709","catch_line":"Testing of mortgage loan originator applicants","url":"\/6.2-1709\/","token":"6.2\/III\/17\/6.2-1709","metadata":false},{"id":73180,"structure_id":14519,"section_number":"6.2-1710","catch_line":"Continuing education requirements","url":"\/6.2-1710\/","token":"6.2\/III\/17\/6.2-1710","metadata":false},{"id":62238,"structure_id":14519,"section_number":"6.2-1711","catch_line":"Licenses; places of business; changes","url":"\/6.2-1711\/","token":"6.2\/III\/17\/6.2-1711","metadata":false},{"id":75970,"structure_id":14519,"section_number":"6.2-1712","catch_line":"Repealed","url":"\/6.2-1712\/","token":"6.2\/III\/17\/6.2-1712","metadata":false},{"id":74171,"structure_id":14519,"section_number":"6.2-1712.1","catch_line":"Inactive mortgage loan originator licenses","url":"\/6.2-1712.1\/","token":"6.2\/III\/17\/6.2-1712.1","metadata":false},{"id":61396,"structure_id":14519,"section_number":"6.2-1713","catch_line":"Investigations; examinations","url":"\/6.2-1713\/","token":"6.2\/III\/17\/6.2-1713","metadata":false},{"id":76664,"structure_id":14519,"section_number":"6.2-1714","catch_line":"Annual fees","url":"\/6.2-1714\/","token":"6.2\/III\/17\/6.2-1714","metadata":false},{"id":68427,"structure_id":14519,"section_number":"6.2-1715","catch_line":"Advertising; use of a unique identifier","url":"\/6.2-1715\/","token":"6.2\/III\/17\/6.2-1715","metadata":false},{"id":59032,"structure_id":14519,"section_number":"6.2-1716","catch_line":"Suspension or revocation of license","url":"\/6.2-1716\/","token":"6.2\/III\/17\/6.2-1716","metadata":false},{"id":86396,"structure_id":14519,"section_number":"6.2-1717","catch_line":"Filing of written report with Commissioner; events affecting a licensee","url":"\/6.2-1717\/","token":"6.2\/III\/17\/6.2-1717","metadata":false},{"id":64231,"structure_id":14519,"section_number":"6.2-1718","catch_line":"Notice of proposed suspension or revocation","url":"\/6.2-1718\/","token":"6.2\/III\/17\/6.2-1718","metadata":false},{"id":60139,"structure_id":14519,"section_number":"6.2-1719","catch_line":"Civil penalties","url":"\/6.2-1719\/","token":"6.2\/III\/17\/6.2-1719","metadata":false},{"id":76095,"structure_id":14519,"section_number":"6.2-1720","catch_line":"Regulations; agreements between Commission and Registry","url":"\/6.2-1720\/","token":"6.2\/III\/17\/6.2-1720","metadata":false},{"id":85681,"structure_id":14519,"section_number":"6.2-1721","catch_line":"Cease and desist orders","url":"\/6.2-1721\/","token":"6.2\/III\/17\/6.2-1721","metadata":false}],"previous_section":{"id":75970,"structure_id":14519,"section_number":"6.2-1712","catch_line":"Repealed","url":"\/6.2-1712\/","token":"6.2\/III\/17\/6.2-1712","metadata":false},"next_section":{"id":61396,"structure_id":14519,"section_number":"6.2-1713","catch_line":"Investigations; examinations","url":"\/6.2-1713\/","token":"6.2\/III\/17\/6.2-1713","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-1712.1\/","history_text":"

This law was first created in 2016. The record of its establishment is cataloged in chapter 330<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. That modification is as follows: in 2019, chapter 740<\/a>.<\/p>","references":false,"refers_to":[{"id":60886,"section_number":"6.2-1703","catch_line":"Bond required","order_by":null,"url":"\/6.2-1703\/"},{"id":62238,"section_number":"6.2-1711","catch_line":"Licenses; places of business; changes","order_by":null,"url":"\/6.2-1711\/"}],"permalink":{"id":266195,"object_type":"law","relational_id":74171,"identifier":"6.2-1712.1","token":"6.2\/III\/17\/6.2-1712.1","url":"\/6.2-1712.1\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-1712.1\/","token":"6.2\/III\/17\/6.2-1712.1","dublin_core":{"Title":"Inactive mortgage loan originator licenses","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-1712.1","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Notwithstanding any other provision of this chapter, if the Commission<\/span> finds that an individual has applied for a mortgage loan originator<\/span> license and meets all applicable requirements for licensure except § 6.2-1703<\/a>, then the Commission<\/span> shall issue<\/span> a mortgage loan originator<\/span> license to the applicant. However, the license issued by the Commission<\/span> shall be inactive by operation of law<\/span> until the Commission<\/span> has updated the licensee<\/span>’s status in the Registry<\/span> pursuant to subsection D. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Notwithstanding any other provision of this chapter, if the Commission<\/span> finds that an individual has requested renewal of his mortgage loan originator<\/span> license in accordance with subsection C of § 6.2-1711<\/a> and meets all applicable requirements for license renewal except § 6.2-1703<\/a>, then the Commission<\/span> shall renew the individual’s mortgage loan originator<\/span> license. However, the license renewed by the Commission<\/span> shall be inactive by operation of law<\/span> until the Commission<\/span> has updated the licensee<\/span>’s status in the Registry<\/span> pursuant to subsection D. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> If at any time a licensee<\/span> ceases to be covered by a surety<\/span> bond<\/span> meeting the requirements of § 6.2-1703<\/a>, then the individual’s license shall be inactive by operation of law<\/span> until the Commission<\/span> has updated the licensee<\/span>’s status in the Registry<\/span> pursuant to subsection D. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> If a licensee<\/span>’s mortgage loan originator<\/span> license is inactive by operation of law<\/span> pursuant to this section, then the licensee<\/span> shall not engage in the business of a mortgage loan originator<\/span> until (i) the Commission<\/span> has determined that the licensee<\/span> is covered by a surety<\/span> bond<\/span> meeting the requirements of § 6.2-1703<\/a> and (ii) based upon its determination, the Commission<\/span> has updated the licensee<\/span>’s status in the Registry<\/span> to indicate that the licensee<\/span> may engage in the business of a mortgage loan originator<\/span>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nINACTIVE MORTGAGE LOAN ORIGINATOR LICENSES (\u00a7 6.2-1712.1)\n\nA. Notwithstanding any other provision of this chapter, if the Commission finds\nthat an individual has applied for a mortgage loan originator license and meets\nall applicable requirements for licensure except § 6.2-1703, then the\nCommission shall issue a mortgage loan originator license to the applicant.\nHowever, the license issued by the Commission shall be inactive by operation of\nlaw until the Commission has updated the licensee’s status in the Registry\npursuant to subsection D.\n\nB. Notwithstanding any other provision of this chapter, if the Commission finds\nthat an individual has requested renewal of his mortgage loan originator license\nin accordance with subsection C of § 6.2-1711 and meets all applicable\nrequirements for license renewal except § 6.2-1703, then the Commission\nshall renew the individual’s mortgage loan originator license. However,\nthe license renewed by the Commission shall be inactive by operation of law\nuntil the Commission has updated the licensee’s status in the Registry\npursuant to subsection D.\n\nC. If at any time a licensee ceases to be covered by a surety bond meeting the\nrequirements of § 6.2-1703, then the individual’s license shall be\ninactive by operation of law until the Commission has updated the\nlicensee’s status in the Registry pursuant to subsection D.\n\nD. If a licensee’s mortgage loan originator license is inactive by\noperation of law pursuant to this section, then the licensee shall not engage in\nthe business of a mortgage loan originator until (i) the Commission has\ndetermined that the licensee is covered by a surety bond meeting the\nrequirements of § 6.2-1703 and (ii) based upon its determination, the\nCommission has updated the licensee’s status in the Registry to indicate\nthat the licensee may engage in the business of a mortgage loan originator.\n\nHISTORY: 2016, c. 330; 2019, c. 740.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}