| (a) Administrative Penalty. If the Commissioner approves
a claim made under Finance Code §156.555, the Commissioner may
impose an administrative penalty on the unlicensed individual whose
fraudulent acts caused the claim.
(b) Grounds for Denial. As provided by Finance Code §180.201(1),
failure by the unlicensed individual to pay the administrative penalty
imposed by this section is a violation of an order of the Commissioner
and therefore constitutes grounds for denial of an application from
such individual for a residential mortgage loan originator license
under Finance Code Chapter 157.
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