13-10-05. Issuance of license

13-10-05. Issuance of license The commissioner shall not issue a mortgage loan originator license unless the commissioner makes at a minimum the following findings: 1. The applicant has never had a mortgage loan originator license revoked in any governmental jurisdiction, except that a subsequent formal vacation of such revocation shall not be deemed a revocation. 2. The applicant has not been charged pending trial, convicted, pled guilty, pled to lesser charges, or pled nolo contendere to, a felony in a domestic, foreign, or military court: a. During the seven-year period preceding the date of the application for licensing and registration; or b. At any time preceding such date of application, if such felony involved an act of fraud, dishonesty, or a breach of trust, or money laundering; c. Provided that any pardon of a conviction shall not be a conviction for purposes of this subsection. 3. a. The applicant has demonstrated financial responsibility, character, and general fitness such as to command the confidence of the community and to warrant a determination that the mortgage loan originator will operate honestly, fairly, and efficiently within the purposes of this chapter. b. For purposes of this subsection, a person has shown that that person is not financially responsible when that person has shown a disregard in the management of that person's own financial condition. A determination that an individual has not shown financial responsibility may include: (1) Current outstanding judgments, except judgments solely as a result of medical expenses; (2) Current outstanding tax liens or other government liens and filings; (3) Foreclosures within the past three years; and (4) A pattern of seriously delinquent accounts within the past three years. 4. The applicant has completed the prelicensing education requirement described in section 13-10-06. 5. The applicant has passed a written test that meets the test requirement described in section 13-10-07. 6. The applicant has met the net worth and surety bond requirements under section 13-10-13.