Iowa Code 535D.9 – Standards for license renewal and nonrenewal
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Terms Used In Iowa Code 535D.9
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage loan: A loan made by a lender to a borrower for the financing of real property. Source: OCC
535D.9 Standards for license renewal and nonrenewal.
1. The minimum standards for license renewal for a mortgage loan originator include the
following:
a. The mortgage loan originator continues to meet the conditions for licensure under § 535D.6.
b. The mortgage loan originator has satisfied the annual continuing education requirements described in § 535D.10.
c. The mortgage loan originator has paid all required fees for renewal of the license.
2. The license of a mortgage loan originator failing to satisfy the minimum standards for license renewal shall not be renewed. The superintendent may adopt rules for the reinstatement of a license not renewed pursuant to this subsection consistent with the standards established by the nationwide mortgage licensing system and registry.
2009 Acts, ch 61, §10, 25
Referred to in §535D.10, 535D.13
1. The minimum standards for license renewal for a mortgage loan originator include the
following:
a. The mortgage loan originator continues to meet the conditions for licensure under § 535D.6.
b. The mortgage loan originator has satisfied the annual continuing education requirements described in § 535D.10.
c. The mortgage loan originator has paid all required fees for renewal of the license.
2. The license of a mortgage loan originator failing to satisfy the minimum standards for license renewal shall not be renewed. The superintendent may adopt rules for the reinstatement of a license not renewed pursuant to this subsection consistent with the standards established by the nationwide mortgage licensing system and registry.
2009 Acts, ch 61, §10, 25
Referred to in §535D.10, 535D.13