The Alabama State Banking Department conducts examinations of licensed mortgage brokers. What is the examination fee?

Correct answer: $200 per day per examiner

The Alabama State Banking Department charges $200 per day per examiner for examinations of licensed mortgage brokers. This cost is borne by the licensee. Examinations may be triggered by complaints, routine scheduling, or suspicion of violations. The Banking Department has authority to examine books, records, and business practices to ensure compliance with both the Mortgage Brokers Licensing Act and the Alabama SAFE Act. Source: Alabama Mortgage Brokers Licensing Act.