Amended by Stats. 2009, Ch. 160, Sec. 55. (SB 36) Effective October 11, 2009.
The commissioner may refuse to issue a residential mortgage lender or servicer license if any of the following apply:
(a)The applicant is not in material compliance with a provision of this division or an order or rule of the commissioner.
(b)The commissioner cannot make the findings specified in
subdivision (c) of Section 50121.
(c)A material requirement for issuance of a license has not been met.
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