Iowa Code r. 187-19.12 - Disciplinary action
(1) The
superintendent has authority, pursuant to Iowa Code chapters 535D and 17A, to
impose discipline for violations of Iowa Code chapter 535D and the rules
promulgated thereunder.
(2) Grounds
for discipline. The superintendent may impose any of the disciplinary sanctions
set out in Iowa Code section
535D.13 when the superintendent
finds any of the following:
a. The licensee
has violated a provision of Iowa Code chapter 535D or a rule adopted thereunder
or any other state or federal law applicable to the conduct of mortgage loan
originators, including but not limited to Iowa Code chapters 535 and
535A.
b. A fact or condition exists
which, had it existed at the time of the original application for the license,
would have warranted the superintendent to refuse to issue the original
license.
c. The licensee fails at
any time to meet the requirements of Iowa Code section
535D.6 or
535D.9 or withholds information
or makes a material misstatement in an application for a license or the renewal
of a license.
d. The licensee has
violated an order of the superintendent.
e. The licensee fails to fully cooperate with
an examination or investigation, including failure to respond to a
superintendent inquiry within 30 days of the date of mailing a written
communication directed to the licensee's last-known address on file with the
superintendent.
f. The licensee has
engaged in any conduct that subverts or attempts to subvert an examination or
investigation by the superintendent.
g. The licensee continues to operate as a
mortgage loan originator without an active and current license.
h. The licensee continues to act as a
mortgage loan originator without first satisfying the required continuing
education, absent an express waiver granted by the superintendent.
i. The licensee has submitted a false report
of continuing education.
j. The
licensee fails to notify the superintendent within ten days of the occurrence
of one of the significant events set forth in rule
187-19.6 (17A,535D).
k. Another state or jurisdiction has denied,
suspended, revoked, or refused to renew the licensee's license, registration,
or authorization to act as a mortgage loan originator under the other state's
or jurisdiction's law.
l. The
licensee fails to create and maintain complete and accurate records as required
by state or federal law, regulation, or rule.
(3) A licensee may surrender a license by
delivering to the superintendent a written notice of surrender.
Notes
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