§ 599-n. Enforcement authority; grounds for suspension or revocation\nof a mortgage loan originator license; restitution. 1. Licensee\nrevocation. In addition to the authority set forth in subdivision three\nof this section, the superintendent may revoke a license to engage in\nbusiness as a mortgage loan originator pursuant to this article if he or\nshe finds, after notice and a hearing, that:\n (a) Through a course of conduct, the licensee has violated any\nprovisions of this article, or any rule or regulation promulgated by the\nsuperintendent thereunder, or any rule or regulation promulgated by the\nsuperintendent under article twelve-D of this chapter or of any other\napplicable law, rule or regulation of this state or the federal\ngovernment pertaining to mortgage banking, brokering or loan\noriginating; or\n (b) Any fact or condition exists which, if it had existed at the time\nof the original application for such license, would have warranted the\nsuperintendent to refuse to issue such initial license.\n 2. Restitution. The superintendent may order a mortgage loan\noriginator or any other person to pay restitution for violations of this\narticle or any rules of the superintendent promulgated hereunder.\n 3. Suspension; termination. (a) The superintendent may, for good\ncause, or where there is a substantial risk of public harm, without\nnotice or a hearing, issue an order suspending the license of any\nmortgage loan originator for a period not to exceed ninety days for\ninvestigation. "Good cause", as used in this subdivision, shall exist\nonly when the mortgage loan originator has engaged or engages in\ndishonest or inequitable practices or practices which demonstrate\nincompetent mortgage loan originating, which practices may cause\nsubstantial harm to the persons afforded the protection of article\ntwelve-D of this chapter, or the license of the mortgage loan originator\nwas revoked in another state or jurisdiction participating in the NMLSR.\n (b) The superintendent may, without notice or a hearing, issue an\norder suspending any license: (i) thirty days after the date the\nmortgage loan originator fails to file any report required to be filed\nwith the superintendent pursuant to the authority provided by this\narticle; or (ii) immediately upon notice that any required surety bond\nwith respect to the licensee is no longer in effect.\n (c) If the superintendent has issued an order suspending a license\npursuant to paragraph (a) of this subdivision, such license may be\nreinstated if the superintendent determines, in his or her sole\ndiscretion after investigation, that good cause therefor did not exist\nor no longer exists. If the superintendent has issued an order\nsuspending a license pursuant to paragraph (b) of this subdivision, such\nlicense may be reinstated, if the superintendent determines, in his or\nher sole discretion, that the licensee has cured all deficiencies set\nforth in such order by the close of business ninety days after the date\nof such suspension order. Otherwise, in case of a suspension pursuant to\nparagraph (b) of this subdivision, unless the superintendent has, in his\nor her sole discretion, extended such suspension, the license of such\nmortgage loan originator shall be deemed to be automatically terminated\nby operation of law at the close of business on such ninetieth day.\n 4. Requirement for a hearing. Except as provided in subdivision three\nof this section, no license shall be revoked or suspended except after\nnotice and a hearing thereon. Any order of suspension issued after\nnotice and a hearing may include as a condition of reinstatement that\nrestitution be made to consumers of fees or other charges which have\nbeen improperly charged or collected as determined by the\nsuperintendent.\n 5. Surrender of license. With the prior consent of the superintendent,\nany mortgage loan originator may surrender any license by delivering to\nthe superintendent written notice tha
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