New Mexico Administrative Code
Title 12 - TRADE, COMMERCE AND BANKING
Chapter 19 - MORTGAGE LENDING
Part 2 - MORTGAGE LOAN ORIGINATOR REQUIREMENTS
Section 12.19.2.12 - REINSTATEMENT OF LICENSE

Universal Citation: 12 NM Admin Code 12.19.2.12

Current through Register Vol. 35, No. 18, September 24, 2024

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 license must be reinstated 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 must be completed by February 28 of the year immediately following the year the license expired.

C. The licensee must pay the applicable licensing, reinstatement and late fees. If a mortgage loan originator whose license has expired fails to meet the requirements for reinstatement specified in this section, the mortgage loan originator must apply for a license and meet the requirements for licensure in effect at that time.

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