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 section 535D.6 . b. The mortgage loan originator has satisfied the annual continuing education requirements described in section 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