Limitation on name of mortgage business

1. Law
2. District of Columbia Code
3. Banks and Other Financial Institutions
4. Mortgage Lenders and Brokers
5. Limitation on name of mortgage business

A mortgage lender, mortgage broker, mortgage loan originator, or loan officer may not do business under any trade name that misrepresents or tends to misrepresent that the mortgage lender is:

(1) A bank, trust company, or savings bank;

(2) A savings and loan association;

(3) A credit union; or

(4) An insurance company.

(Sept. 9, 1996, D.C. Law 11-155, § 21, 43 DCR 4213; July 18, 2009, D.C. Law 18-38, § 2(n), 56 DCR 4290.)

Prior Codifications

1981 Ed., § 26-1020.

Effect of Amendments

D.C. Law 18-38 substituted “mortgage lender, mortgage broker, mortgage loan originator, or loan officer” for “mortgage lender or mortgage broker”.

Emergency Legislation

For temporary (90 day) amendment of section, see § 2(l) of Mortgage Lender and Broker Emergency Amendment Act of 2008 (D.C. Act 17-617, December 22, 2008, 56 DCR 189).

For temporary (90 day) amendment of section, see § 2(l) of Mortgage Lender and Broker Congressional Review Emergency Amendment Act of 2009 (D.C. Act 18-31, March 16, 2009, 56 DCR 2327).

Temporary Legislation

Section 2(l) of D.C. Law 17-350 substituted “mortgage lender, mortgage broker, mortgage loan originator, or loan officer” for “mortgage lender or mortgage broker”.

Section 5(b) of D.C. Law 17-350 provided that the act shall expire after 225 days of its having taken effect.

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