What authority does the Commissioner lack regarding licenses in other states?

The Commissioner lacks the authority to revoke licenses held in other states because each state maintains its own licensing authority and regulations for mortgage loan originators. This means that the Commissioner can only take action regarding licenses that are issued within their own jurisdiction. Revocation of a license is a power that is specifically reserved for the state that issued it, based on their individual statutes and guidelines.

On the other hand, the Commissioner may have the ability to impose fines, conduct audits, or issue reprimands for practices that violate state laws, even if these actions pertain to license holders from another state. These regulatory powers allow the Commissioner to oversee compliance and enforce laws within their jurisdiction, while respecting the autonomous licensing authority of other states. This delineation is important for maintaining regulatory boundaries and ensuring that each state can manage its own professionals according to its specific legal framework.