Chapters

[CHAPTER 454F] SECURE AND FAIR ENFORCEMENT FOR MORTGAGE LICENSING ACT

Contents 454F-1 Definitions 454F-1.5 Registration with NMLS required 454F-1.6 Presumption of control 454F-1.7 Duties of a mortgage loan originator company's qualified individual and branch manager 454F-1.8 Sponsorship by mortgage loan originator company, exempt sponsoring mortgage loan originator company, 454F-2 Exemptions 454F-2.5 Exempt sponsoring mortgage loan originator company; registration 454F-3 Requirement of licensure 454F-4 License and registration; application; issuance 454F-4.5 Automatic secondary review of license application 454F-4.8 Decision denying application subject to administrative hearing 454F-4.9 Abandoned applications 454F-5 Issuance of license 454F-6 Pre-licensing and re-licensing; education of mortgage loan originators 454F-7 Testing of mortgage loan originators 454F-8 Standards for license renewal 454F-8.5 Reinstatement of expired licenses 454F-9 Continuing education; mortgage loan originators 454F-10 Authority to require license 454F-10.5 Authorized places of business; designation of qualified individuals and branch managers; branch offices; 454F-10.6 Voluntary cessation of operation; surrender of license 454F-10.7 Change in control of a licensee; fees 454F-11 NMLS registry information; challenge process 454F-12 Enforcement authorities; violations; penalties 454F-13 Repealed 454F-14 Confidentiality 454F-15 Investigation and examination authority 454F-16 Mortgage call reports 454F-17 Prohibited practices 454F-18 Powers of commissioner 454F-19 Unique identifier shown 454F-20 Report to NMLS 454F-21 Repealed 454F-22 Mortgage loan originator, mortgage loan originator company, exempt sponsoring mortgage loan 454F-23 Payment of fees 454F-24 Mortgage servicer companies; mortgage loan originators 454F-25 Nonprofit organizations; mortgage loan originators 454F-26 Repealed 454F-41 Mortgage loan recovery fund; use of fund; fees 454F-42 Statute of limitation; recovery from fund 454F-43 Management of fund 454F-44 Standing 454F-45 Subrogation of rights 454F-46 Waiver of rights 454F-47 Disciplinary action against licensee

     §454F-4.9  Abandoned applications.  (a)  An application for licensure pursuant to this chapter shall be considered abandoned if an applicant fails to provide evidence of continued efforts to complete the licensing application process for thirty days.  The thirty-day period shall begin on the last day of contact with the division by the applicant.  The commissioner may extend this period for good cause.  No refund of filing fees shall be provided to an applicant for an abandoned application.  The commissioner shall not be required to act on any abandoned application and is not required to retain abandoned applications or supporting documents.  The commissioner may withdraw abandoned applications from NMLS.

     (b)  For purposes of this section, failure to provide evidence of continued efforts to complete the licensing process includes:

     (1)  Failure to submit required documents and other information requested by the commissioner within thirty days from the last date the documents or other information were requested; or

     (2)  Failure to provide the commissioner with any written communication indicating that the applicant is attempting to complete the licensing process for a period of thirty days.

     (c)  If an application is deemed abandoned by the commissioner, the applicant may reapply for licensure after payment of applicable fees and compliance with the licensing requirements in effect at the time of reapplication.

     (d)  An applicant may withdraw an application that has been submitted under this chapter at any time; provided that no refund shall be issued.  The commissioner shall treat a withdrawn application as an abandoned application according to this section. [L 2011, c 194, pt of §1; am L 2012, c 252, §8; am L 2013, c 168, §20]