License Renewal; Reinstatement Process
(1)A mortgage loan originator license shall expire on December 31 of each calendar year. At least 30 days prior to the expiration of a mortgage loan originator license, a mortgage loan originator shall submit all information required to the National Mortgage Licensing System and Registry. The renewal application shall include evidence that:
(a)The mortgage loan originator attests that all information contained in the renewal request and application is true and accurate;
(b)The applicant continues to meet the minimum requirements for a mortgage loan originator license in ORS 86A.212 (Findings required for issuing license);
(c)The applicant paid any required fee, as applicable, under OAR 441-880-0400 (Fees Payable to the Director); and
(d)The applicant completed twenty hours of pre-licensure education or ten hours of continuing education that comply with the requirements in OAR 441-880-0310 (Mortgage Loan Originator Continuing Education Requirements; Curing Deficiencies; License Sanctions for Failure to Maintain Continuing Education).
(2)A person applying to reinstate a mortgage loan originator license that has lapsed for a period of five or more years, whether or not the applicant was employed or continued to engage in business as a mortgage loan originator during the period of the lapse, shall:
(a)Complete the continuing education requirements under this section (1) of this rule; and
(b)Pass a qualified written test under ORS 86A.215 (Education and testing requirements for license) and OAR 441-880-0215 (Oregon Examination For Mortgage Loan Originators).
Rule 441-880-0300 — License Renewal; Reinstatement Process,