Section 750IAC9-3-9. License renewal

   (a) Mortgage loan originator licenses must be renewed as of December 31 of each calendar year.

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

(1) The mortgage loan originator has certified to the department that he or she continues to meet the minimum standards for license issuance under section 2 of this rule.

(2) The mortgage loan originator has satisfied the annual continuing education requirements described in section 10 of this rule.

(3) The mortgage loan originator has satisfied the regulatory reporting requirements described in 750 IAC 9-4-2.

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

(5) The mortgage loan originator shall provide in the renewal application any information describing material changes in the information contained in the original license application or any previous application and such other information the director may require in order to evaluate the renewal of the license issued under this rule.

  (c) If a mortgage loan originator fails to satisfy the minimum standards for license renewal, the mortgage loan originator's license expires. The director may adopt procedures for the reinstatement of expired licenses consistent with the standards established by the NMLSR. (Department of Financial Institutions; 750 IAC 9-3-9; emergency rule filed Jul 23, 2009, 4:14 p.m.: 20090729-IR-750090577ERA; emergency rule filed Dec 15, 2011, 2:54 p.m.: 20111221-IR-750110778ERA; readopted filed Dec 1, 2015, 9:28 a.m.: 20151230-IR-750150336RFA)