Iowa Admin. Code r. 187-19.15 - Nonpayment of state debt
The
(1) The notice required by Iowa Code section
272D.8
shall be served on the mortgage loan originator or applicant by restricted
certified mail, return receipt requested, or personal service in accordance
with the Iowa Rules of Civil Procedure. Alternatively, the mortgage loan
originator or applicant may accept service personally or through authorized
counsel.
(2) The effective date of
the denial of issuance or renewal of a license, as specified in the notice
required by Iowa Code section
272D.8,
shall be 60 days following service of the notice upon the mortgage loan
originator or applicant.
(3) The
superintendent is authorized to prepare and serve the notice required by Iowa
Code section
272D.8
upon the mortgage loan originator or applicant.
(4) Mortgage loan originators and applicants
shall keep the superintendent informed of all court actions and all centralized
collection unit actions taken under or in connection with Iowa Code chapter
272D and shall provide the superintendent copies, within seven days of filing
or issuance, of all applications filed with the district court pursuant to Iowa
Code section
272D.9,
all court orders entered in such actions, and withdrawals of certificates of
noncompliance by the centralized collection unit.
(5) All fees for applications, license
renewals or reinstatements must be paid by mortgage loan originators or
applicants, and all continuing education requirements must be met before a
mortgage loan originator license will be issued, renewed or reinstated after
the superintendent has denied the issuance or renewal of a mortgage loan
originator license pursuant to Iowa Code chapter 272D. This rule is intended to
implement Iowa Code chapters 272D and 17A.
Notes
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