                                 CODE OF VIRGINIA

CEASE AND DESIST ORDERS (§ 6.2-1721)

A. If the Commission determines that any mortgage loan originator required to be
licensed hereunder has violated any provision of this chapter or any regulation
adopted pursuant thereto, the Commission may, upon 21 days&#8217; notice in
writing, order such person to cease and desist from such practices and to comply
with the provisions of this chapter. The notice shall be sent by certified mail
to the address of record in the Registry for such mortgage loan originator and
shall state the grounds for the contemplated action.

B. Within 14 days after the mailing of the notice, the person named therein may
file with the clerk of the Commission a written request for a hearing. If a
hearing is requested, the Commission shall not issue a cease and desist order
except based upon findings made at the hearing. The hearing shall be conducted
in accordance with the provisions of Title 12.1. The Commission may enforce
compliance with any such order issued under this section by imposition and
collection of such penalties as may be prescribed by Commission regulations.

HISTORY: 2011, c. 435.