§ 45-732 — License; term; renewal; minimum standards for renewal; fee; denial; appeal

Nebraska § 45-732

• Jurisdiction: Nebraska
• Ch. 45: Interest, Loans, and Debt

Text

(1) All initial mortgage loan originator licenses shall
remain in full force and effect until the next succeeding December 31. Mortgage
loan originator licenses may be renewed annually by submitting to the director
a request for renewal and any supplemental material as required by the director.
The mortgage loan originator licensee shall certify that the information contained
in the license application, as subsequently amended, that is on file with
the department, and the information contained in any supplemental material
previously provided to the department, remains true and correct.
(2) The minimum standards
for license renewal for mortgage loan originators shall include the following:
(a) The mortgage loan
originator continues to meet the minimum standards for license issuance under
subdivisions (1)(a) through (f) of section 45-729 ;
(b) The mortgage loan originator
has satisfied the annual continuing education requirements described in section 45-733 ; and
(c)
The mortgage loan originator has paid all required fees for renewal of the
license.
(3)
For the annual renewal of a mortgage loan originator license, the fee shall
be one hundred twenty-five dollars, plus the cost of the criminal history
background check required by the director and any processing fee allowed under
subsection (2) of section 45-748 .
(4) Except as provided in subsection (4) of section 45-734 and subsection (4) of section 45-742 , should the director conclude
that a mortgage loan originator does not meet the minimum standards for license
renewal, the director shall deny the renewal application. A decision of the
director denying a renewal of a mortgage loan originator license pursuant
to the Residential Mortgage Licensing Act may be appealed. The appeal shall
be in accordance with the Administrative Procedure Act and the rules and regulations
adopted and promulgated by the department under the act.

Legislative History

Source: Laws 2009, LB328, § 17. Cross References: Administrative Procedure Act, see section 84-920.