What constitutes a violation under West Virginia mortgage lending laws?

A failure to comply with licensing requirements is a clear violation under West Virginia mortgage lending laws because these laws are designed to ensure that all mortgage loan originators operate within established guidelines that protect consumers and maintain the integrity of the lending process. Compliance with licensing requirements includes obtaining the necessary credentials, continuing education, and adhering to ethical standards. Failure to do so not only undermines the regulatory framework intended to maintain a fair and transparent lending environment but can also lead to significant legal repercussions for the originator and could negatively impact borrowers.

Improper record-keeping by borrowers, exceeding loan limits, and failing to provide interest rates in written communication, while potentially problematic, do not directly relate to the licensure of the loan originator. Those actions typically fall outside the scope of what constitutes a direct violation of licensing laws, which focus on the conduct of the loan originators themselves. Understanding these distinctions is crucial for maintaining compliance in the mortgage lending profession.