What is the maximum civil penalty for each violation of the West Virginia S.A.F.E. Act?

The maximum civil penalty for each violation of the West Virginia S.A.F.E. Act is set at $25,000. This amount reflects the law's intention to impose significant consequences on individuals or entities that do not comply with the standards and regulations established within the Act.

This penalty structure is designed to enhance compliance among mortgage loan originators and ensure that they adhere to quality standards in their practices, ultimately fostering consumer protection and market integrity. It is important to note that the civil penalty amounts can vary in other contexts or jurisdictions, but within the framework of the West Virginia S.A.F.E. Act, the stipulation of $25,000 serves as a deterrent against violations and encourages adherence to ethical and legal standards in mortgage lending.