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454F-11 NMLS registry information; challenge process 454F-12 Enforcement authorities; violations; penalties 454F-13 Repealed 454F-14 Confidentiality 454F-15 Investigation and examination authority 454F-16 Mortgage call reports 454F-17 Prohibited practices 454F-18 Powers of commissioner 454F-19 Unique identifier shown 454F-20 Report to NMLS 454F-21 Repealed 454F-22 Mortgage loan originator, mortgage loan originator company, exempt sponsoring mortgage loan 454F-23 Payment of fees 454F-24 Mortgage servicer companies; mortgage loan originators 454F-25 Nonprofit organizations; mortgage loan originators 454F-26 Repealed 454F-41 Mortgage loan recovery fund; use of fund; fees 454F-42 Statute of limitation; recovery from fund 454F-43 Management of fund 454F-44 Standing 454F-45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-8.5]  Reinstatement of expired licenses.  (a)  A license issued pursuant to this chapter that expires due to failure to satisfy the minimum standards for renewal may be reinstated if the licensee meets the following requirements:

     (1)  The licensee applies for reinstatement between January 1 and February 28 of the year immediately following the year in which the license expired;

     (2)  All continuing education courses required for license renewal for the year in which the license expired shall be completed between January 1 and February 28 of the year immediately following the year in which the license expired; provided that continuing education courses that satisfy the previous year's requirement shall not also be credited toward satisfying the current year's continuing education requirements; and

     (3)  The licensee shall pay all applicable licensing, reinstatement, and late fees assessed by the commissioner.

     (b)  A licensee that fails to meet the requirements for renewal of an expired license established by this section may apply for a new license and shall meet the requirements for new licenses in effect at the time of application. [L 2010, c 84, pt of §3]