§ 599-e. Issuance of a license. 1. Findings. Notwithstanding any other\nlaw, the superintendent shall not issue a mortgage loan origination\nlicense unless he or she makes, at a minimum, the following findings:\n (a) No license revocation. That the applicant has never had a mortgage\nloan originator authorization, license or license equivalent revoked in\nany governmental jurisdiction, except that a subsequent formal vacation\nof such revocation shall not be deemed a revocation;\n (b) No felony conviction. That the applicant has not been convicted\nof, or pled guilty or nolo contendere to, a felony in a domestic,\nforeign, or military court:\n (i) During the seven-year period preceding the date of the application\nfor licensing; or\n (ii) At any time preceding such date of application, if such felony\ninvolved an act of fraud, dishonesty, or a breach of trust, or money\nlaundering, provided that for purposes of this subdivision, the\nsuperintendent may, in his or her discretion, disregard a conviction\nwhere the felon has been pardoned;\n (c) Character and fitness. That the applicant has demonstrated\nfinancial responsibility, character, and general fitness such as to\ncommand the confidence of the community and to warrant a determination\nthat the MLO will operate honestly, fairly, and efficiently within the\npurposes of this article;\n (d) Pre-licensing education. That the applicant has completed the\npre-licensing education requirement described in section five hundred\nninety-nine-f of this article;\n (e) Written test. That the applicant has passed a written test that\nmeets the test requirement described in section five hundred\nninety-nine-g of this article;\n (f) Surety bond. That the applicant has met the surety bond\nrequirement described in section five hundred ninety-nine-k of this\narticle; and\n (g) Affiliation. Unless the superintendent shall have waived the\naffiliation requirement pursuant to regulations adopted by the\nsuperintendent, that the applicant is employed by, or is an independent\ncontractor of (i) an originating entity, (ii) solely in the case of a\nmortgage loan originator engaged in the origination of residential\nmortgage loans on manufactured homes, an entity licensed under article\nnine or eleven-B of this chapter, or (iii) in the case of a mortgage\nloan originator engaged in mortgage loan servicing and employed by a\nmortgage loan servicer, an entity registered as a mortgage loan servicer\nunder article twelve-D of this chapter or exempt from registration under\nsuch article. A mortgage loan originator may not be simultaneously\nemployed or affiliated with more than one originating entity.\n 2. Disqualifying associations. The superintendent may refuse to issue\na license pursuant to this article if he or she shall find that the\napplicant (a) has been a director, partner, or substantial stockholder\nof an originating entity which has had a registration or license revoked\nby the superintendent or a regulator of another state that regulates\nsuch originating entity, or (b) has been an employee, officer or agent\nof, or a consultant to, an originating entity that has had a\nregistration or license revoked by the superintendent or a regulator of\nanother state that regulates such originating entity where such person\nshall have been found by the superintendent or by such regulator of\nanother state to bear responsibility for the acts resulting in such\nrevocation. For the purposes of this subdivision, a person shall be\ndeemed to have been convicted of a crime if such person shall have pled\nguilty to a charge thereof before a court or magistrate, or shall have\nbeen found guilty thereof by the decision or judgment of a court or\nmagistrate or by the verdict of a jury, irrespective of the\npronouncement of sentence or the suspension thereof.\n 3. Issuance of a license. The superintendent, after making the\nfindings required by subdivision one of this section shall thereupon\nissue a l
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