Iowa Administrative Code
Agency 187 - Banking Division
Chapter 19 - Mortgage Loan Originators
Rule 187-19.5 - Reinstatement of License
Universal Citation: IA Admin Code 187-19.5
Current through Register Vol. 47, No. 6, September 18, 2024
(1) The license of a mortgage loan originator that expires for failure to satisfy the minimum standards for renewal may be reinstated if the licensee meets the following requirements:
a. The application
for reinstatement is submitted between January 1 and February 28 of the year
immediately following the year the license expired.
b. All continuing education courses and any
other minimum requirements for license renewal for the year in which the
license expired are completed prior to submission of the application for
reinstatement.
c. The licensee pays
a reinstatement fee of $50, in addition to the renewal fee, and any late
charges.
(2) A mortgage loan originator whose license has expired and who fails to meet the requirements for reinstatement specified in this rule must apply for a new license and meet the requirements in effect at that time.
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