Iowa Admin. Code r. 187-20.4 - Grounds for approval or denial

(1) The superintendent shall approve or deny a license application in accordance with the provisions of Iowa Code section 533A.3.

(2) The following may be considered evidence that the business of the applicant may not be operated lawfully and honestly consistent with the purposes of Iowa Code chapter 533A and may therefore be considered grounds for denial of an application:

a. An applicant, or an officer, director, or individual who has control of an applicant, has had a mortgage loan originator license or any lending license revoked in any governmental jurisdiction.

b. An applicant, or an officer, director, or individual who has control of an applicant, has been convicted of, or pled guilty or no contest to, a felony in a domestic, foreign, or military court if such felony involved an act of fraud, dishonesty, or breach of trust, or money laundering.

Notes

Iowa Admin. Code r. 187-20.4

Adopted by IAB October 10, 2018/Volume XLI, Number 8, effective 11/14/2018