Wisconsin Administrative Code
Department of Financial Institutions
DFI-Bkg 1-78 - Department of Financial Institutions-Banking
Chapter DFI-Bkg 41 - Fees and renewals
Section DFI-Bkg 41.05 - License renewals
Current through February 26, 2024
For all licenses expiring on or after December 31, 2010, all of the following apply:
(1) All licenses expire on December 31 of each year.
(2) A licensee may apply for the renewal of a license by submitting to the Nationwide Mortgage Licensing System an application for renewal and the fee required under s. DFI- Bkg 41.01. The application and fee shall be received by the Nationwide Mortgage Licensing System between November 1 and December 31.
(3) The reinstatement period for a renewal application received by the Nationwide Mortgage Licensing System shall begin on January 1 and end on the last day of February of the year following the expiration date of the license. A renewal application received by the Nationwide Mortgage Licensing System during the reinstatement period shall be accompanied by an additional nonrefundable fee of $100.
(4) A mortgage loan originator must satisfy the annual continuing education requirements under s. 224.755(2), Stats., by December 31, even if the renewal application is received by the Nationwide Mortgage Licensing System during the reinstatement period.
(5) A licensee whose application for renewal is not received by the Nationwide Mortgage Licensing System before March 1 shall submit an application for a new license, and no business for which the license is required shall be conducted after the license expires and before a new license is issued by the division.
