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
(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
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.
Cal. Code Regs. Tit.
Note: Authority cited: Sections
Business and Professions Code. Reference: Sections 10150(d),10151(e), 10166.10
and 10166.17(c), Business and Professions
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language will be repealed by operation of law on the following day.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.