Cal. Code Regs. Tit. 10, § 2758.7 - Renewal and Continuing Education

Current through Register 2022 Notice Reg. No. 16, April 25, 2022

(a) After January 1, 2011, the term for a mortgage loan originator license endorsement shall expire on December 31 of the year for which the license endorsement is issued, except that license endorsement applications approved after October 31 of a given year will be valid until December 31 of the following year.
(b) The renewal requirements for a mortgage loan originator license endorsement, including a renewal request and evidence of completion of required continuing education courses that have been completed in the same calendar year, must be filed and all applicable fees paid between November 1 and December 31 through the Nationwide Mortgage Licensing System and Registry.
(c) A licensee who fails to file the necessary requirements to renew a mortgage loan originator license endorsement by December 31 may request reinstatement of the expired license endorsement by filing the appropriate renewal and other applicable minimum application requirements before March 1 of the following year. Notwithstanding Section 10166.10(f) of the Business and Professions Code, continuing education completed between January 1 and March 1, while a license endorsement is expired and for the purpose of meeting the requirements to reinstate the expired license endorsement, will be credited to, and only be credited to, the renewal period of the previous year. If the renewal requirements are not filed by March 1, the licensee must apply for a new mortgage loan originator license endorsement and meet the requirements for a license endorsement at that time.

Notes

Cal. Code Regs. Tit. 10, § 2758.7

Note: Authority cited: Sections 10080 and 10166.17, Business and Professions Code. Reference: Sections 10150(d),10151(e), 10166.10 and 10166.17(c), Business and Professions Code.

1. New section filed 2-23-2010 as an emergency; operative 2-23-2010 (Register 2010, No. 9). A Certificate of Compliance must be transmitted to OAL by 8-23-2010 or emergency language will be repealed by operation of law on the following day.
2. Certificate of Compliance as to 2-23-2010 order transmitted to OAL 5-6-2010 and filed 6-29-2010 (Register 2010, No. 27).

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