What is the maximum fine that may be imposed on a licensee for rule violations?

The maximum fine that may be imposed on a licensee for rule violations is set at $5,000 per violation or the amount of compensation received on the transaction, whichever is greater. This provision serves both as a deterrent to prevent licensees from engaging in misconduct and as a means of holding them accountable for their actions. The rationale behind allowing fines based on the compensation received is to ensure that penalties are proportionate to the potential financial gain from the violation. By establishing this standard, the regulatory framework seeks to uphold the integrity of the lending and mortgage industry, safeguarding consumers from unethical practices.