Alaska Statutes 06.60.085 – Renewal of license

(a) If a licensee intends to renew a license, the licensee shall submit to the department

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Terms Used In Alaska Statutes 06.60.085

department: means the Department of Commerce, Community, and Economic Development. See Alaska Statutes 06.60.990
fund: means the mortgage loan originator surety fund established under Alaska Stat. See Alaska Statutes 06.60.990
license: means a license issued under this chapter. See Alaska Statutes 06.60.990
licensee: means a person who holds a license issued under this chapter. See Alaska Statutes 06.60.990
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
mortgage licensee: means a person who holds a mortgage license. See Alaska Statutes 06.60.990
Mortgage loan: A loan made by a lender to a borrower for the financing of real property. ^{Source: OCC}
mortgage loan: means a residential mortgage loan. See Alaska Statutes 06.60.990
registry: means the Nationwide Mortgage Licensing System and Registry. See Alaska Statutes 06.60.990

(1) a renewal application at a time and in the form and manner established by the department and the registry;

(2) the annual license fee;

(3) if the renewal is for a mortgage license,

(A) a report, as required by regulation, identifying any changes in the information provided to the department; and

(B) current information indicating that the mortgage licensee continues to meet the minimum standards for license issuance;

(4) if the renewal is for a mortgage loan originator license,

(A) a report, as required by regulation, identifying any changes in the information provided to the department;

(B) current information indicating that the mortgage loan originator continues to meet the minimum standards for license issuance;

(C) certificates or other documents showing the mortgage loan originator has satisfied the annual continuing education requirements of Alaska Stat. § 06.60.160; and

(D) the fund fee required by Alaska Stat. § 06.60.550; and

(5) payment of any other required fees for renewal of the license.

(b) The department may adopt by regulation procedures and deadlines regarding the filing of an application for renewal of a license and the assessment of a penalty or other consequence for late filing, consistent with the requirements of the registry.

(c) The department shall approve or deny the application for renewal of a license not later than 60 days after the renewal application is filed.

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