Enforcement Authorities, Violations and Penalties

(a)In order to ensure the effective supervision and enforcement of this Act, the Commissioner may, pursuant to the Administrative Adjudication Law:

(1)Deny, suspend, revoke, condition or decline to renew a license for a violation of this Act, rules or regulations issued under this Act, or order or directive entered under this Act.

(2)Deny, suspend, revoke, condition or decline to renew a license if an applicant or licensee fails at any time to meet the requirements of § 36306 or § 36309 of this Act, or withholds information or makes a material misstatement in an application for a license or renewal of a license.

(3)Order restitution against persons subject to this Act for violations of this Act.

(4)Impose fines on persons subject to this Act pursuant to Subsections (b),

(c)and

(d)of this Section.

(5)Issue orders or directives under this Act as follows:

(A)Order or direct persons subject to this Act to cease and desist from conducting business, including immediate temporary orders to cease and desist.

(B)Order or direct persons subject to this Act to cease any harmful activities or violations of this Act, including immediate temporary orders to cease and desist.

(C)Enter immediate temporary orders to cease business under a license or interim license issued pursuant to the authority granted under § 36304

(e)of this Act if the Commissioner determines that such license was erroneously granted or the licensee is currently in violation of this Act;

(D)Order or direct such other affirmative action as the Commissioner deems necessary.

(b)The Commissioner may impose a civil penalty on a mortgage loan originator or person subject to this Act, if the Commissioner finds, on the record after notice and opportunity for hearing, that such mortgage loan originator or person subject to this Act has violated or failed to comply with COL4122017 CH. 36 MORTGAGES any requirement of this Act or any regulation prescribed by the Commissioner under this Act or order issued under authority of this Act.

(c)The maximum amount of penalty for each act or omission described in Subsection

(b)of this Section shall be Twenty-five Thousand Dollars ($25,000).

(d)Each violation or failure to comply with any directive or order of the Commissioner is a separate and distinct violation or failure.