[ Chapter 255F added by 2007, 206, Sec. 15 effective July 1, 2008. See 2007, 206, Sec. 22.]
[ Text of section added by 2007, 206, Sec. 15 effective July 1, 2008. See 2007, 206, Sec. 22.]
Section 11. (a) Whenever the commissioner finds that any licensee has violated this chapter or any rule or regulation promulgated thereunder, or any other law of the commonwealth applicable to the conduct of a mortgage loan originator on residential property in the commonwealth, the commissioner may, by order, in addition to any other action authorized under this chapter or any rule or regulation made thereunder, impose a penalty upon the person which shall not exceed $5,000 for each violation up to a maximum of $100,000 for such violation plus the costs of investigation. The commissioner may impose a penalty which shall not exceed $5,000 for each violation of this chapter, or any rule or regulation promulgated hereunder, by a person other than a licensee, plus the costs of investigation.
(b) Nothing in this section shall limit the right of any individual or entity who has been injured as a result of any violation of this chapter by a licensee, or any person other than a licensee, to bring an action to recover damages or restitution in a court of competent jurisdiction.
(c) Any findings or orders issued by the commissioner pursuant to this section shall be subject to review as provided in chapter 30A.