No mortgage lender, mortgage broker, mortgage loan originator, or loan officer required to be licensed under this chapter shall use, or cause to be published, any advertisement which:
(1) Contains any false, misleading, or deceptive statement or representation; or
(2) Identifies the mortgage lender, mortgage broker, mortgage loan originator, or loan officer by any name other than the name set forth on the license issued by the Superintendent [Commissioner].
(Sept. 9, 1996, D.C. Law 11-155, § 17, 43 DCR 4213; July 18, 2009, D.C. Law 18-38, § 2(j), 56 DCR 4290.)
1981 Ed., § 26-1016.
D.C. Law 18-38, in the introductory language, substituted “mortgage lender, mortgage broker, mortgage loan originator, or loan officer” for “mortgage lender or mortgage broker”; and, in par. (2), substituted “mortgage lender, mortgage broker, mortgage loan originator, or loan officer” for “lender or broker”.
For temporary (90 day) amendment of section, see § 2(j) of Mortgage Lender and Broker Emergency Amendment Act of 2008 (D.C. Act 17-617, December 22, 2008, 56 DCR 189).
For temporary (90 day) amendment of section, see § 2(j) of Mortgage Lender and Broker Congressional Review Emergency Amendment Act of 2009 (D.C. Act 18-31, March 16, 2009, 56 DCR 2327).
Section 2(j) of D.C. Law 17-350, in the lead-in text, substituted “mortgage lender, mortgage broker, mortgage loan originator, or loan officer” for “mortgage lender or mortgage broker”; and, in par. (2), substituted “mortgage lender, mortgage broker, mortgage loan originator, or loan officer” for “lender or broker”.
Section 5(b) of D.C. Law 17-350 provided that the act shall expire after 225 days of its having taken effect.
Section 3 of D.C. Law 18-38 provided: “Sec. 3. Applicability. Except for section 2(c)(1), (g), (j), and (o), this act shall not apply until the Commissioner of the Department of Insurance, Securities, and Banking has promulgated rules implementing this act.
Structure District of Columbia Code
Title 26 - Banks and Other Financial Institutions
Chapter 11 - Mortgage Lenders and Brokers
§ 26–1103. License requirements
§ 26–1104. Issuance of license
§ 26–1105. Acquisition of control; application
§ 26–1106. Rejection of license application
§ 26–1107. License expiration and renewal; annual fee
§ 26–1108. Change of place of business
§ 26–1109. Record keeping requirements
§ 26–1111. Surrender of license
§ 26–1112. Examinations and investigations
§ 26–1113. Required loan disclosures
§ 26–1114. Prohibited practices
§ 26–1117. Evasive business tactics
§ 26–1118. Suspension, revocation, and enforcement
§ 26–1120. Limitation on name of mortgage business
§ 26–1120.01. Confidential information
§ 26–1120.02. Nationwide Mortgage Licensing System and Registry reporting requirements
§ 26–1120.03. Nationwide Mortgage Licensing System and Registry information challenge process
§ 26–1121. Authority of Commissioner to issue rules and regulations