A mortgage lender, mortgage broker, mortgage loan originator, or loan officer may not do business under any trade name that misrepresents or tends to misrepresent that the mortgage lender is:
(1) A bank, trust company, or savings bank;
(2) A savings and loan association;
(3) A credit union; or
(4) An insurance company.
(Sept. 9, 1996, D.C. Law 11-155, § 21, 43 DCR 4213; July 18, 2009, D.C. Law 18-38, § 2(n), 56 DCR 4290.)
1981 Ed., § 26-1020.
D.C. Law 18-38 substituted “mortgage lender, mortgage broker, mortgage loan originator, or loan officer” for “mortgage lender or mortgage broker”.
For temporary (90 day) amendment of section, see § 2(l) 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(l) 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(l) of D.C. Law 17-350 substituted “mortgage lender, mortgage broker, mortgage loan originator, or loan officer” for “mortgage lender or mortgage broker”.
Section 5(b) of D.C. Law 17-350 provided that the act shall expire after 225 days of its having taken effect.
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