                                 CODE OF VIRGINIA

CEASE AND DESIST ORDERS (§ 6.2-1622)

A. If the Commission determines that any mortgage lender or mortgage broker
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 principal place of business of such mortgage lender or
mortgage broker and shall state the grounds for the contemplated action.

B. Within 14 days of mailing 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
fines and penalties as may be prescribed by Commission regulations.

HISTORY: 1987, c. 596, § 6.1-426; 2010, c. 794.