45-732. License; term; renewal; minimum standards for renewal; fee; denial; appeal.

294 words·~1 min read·/ne/chapter-45/45-732

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(1)All initial mortgage loan originator licenses shall remain in full force and effect until the next succeeding December 31. Mortgage loan originator licenses may be renewed annually by submitting to the director a request for renewal and any supplemental material as required by the director. The mortgage loan originator licensee shall certify that the information contained in the license application, as subsequently amended, that is on file with the department, and the information contained in any supplemental material previously provided to the department, remains true and correct.

(2)The minimum standards for license renewal for mortgage loan originators shall include the following:

(a)The mortgage loan originator continues to meet the minimum standards for license issuance under subdivisions (1)(a) through

(f)of section 45-729 ;

(b)The mortgage loan originator has satisfied the annual continuing education requirements described in section 45-733 ; and

(c)The mortgage loan originator has paid all required fees for renewal of the license.

(3)For the annual renewal of a mortgage loan originator license, the fee shall be one hundred twenty-five dollars, plus the cost of the criminal history background check required by the director and any processing fee allowed under subsection

(2)of section 45-748 .

(4)Except as provided in subsection

(4)of section 45-734 and subsection

(4)of section 45-742 , should the director conclude that a mortgage loan originator does not meet the minimum standards for license renewal, the director shall deny the renewal application. A decision of the director denying a renewal of a mortgage loan originator license pursuant to the Residential Mortgage Licensing Act may be appealed. The appeal shall be in accordance with the Administrative Procedure Act and the rules and regulations adopted and promulgated by the department under the act.