Iowa Admin. Code r. 187-18.20
Current through Register Vol. 47, No. 11, December 11, 2024
Rule 187-18.20 - Disciplinary action(1) The administrator has authority pursuant to Iowa Code chapters 535B and 17A to impose discipline for violations of Iowa Code chapter 535B and the rules promulgated thereunder.(2) Grounds for discipline. The administrator may impose any of the disciplinary sanctions set out in Iowa Code section 535B.7 when the administrator finds any of the following: a. The licensee has violated a provision of Iowa Code chapter 535B or a rule adopted under Iowa Code chapter 535B or any other state or federal law applicable to the conduct of the licensee's business, 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 administrator to refuse to issue the original license.c. The licensee is found upon investigation to be insolvent, in which case the license shall be revoked immediately.d. The licensee has violated an order of the administrator.e. The licensee fails to fully cooperate with an examination or investigation, including failure to respond to an administrator inquiry within 30 calendar days of the date of mailing a written communication directed to the licensee's last-known address on file with the administrator. f. The licensee has engaged in any conduct that subverts or attempts to subvert an examination or investigation by the administrator.g. The licensee continues to operate as a mortgage banker, mortgage broker, or closing agent without an active and current license.j. The licensee fails to notify the administrator within 10 days of the occurrence of one of the significant events set forth in rule 187-18.7 (17A,535B).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 banker, mortgage broker, or closing agent 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 administrator a written notice of surrender.(4) The administrator may issue a cease and desist order ordering a person to cease and desist from violating any provision of Iowa Code chapter 535B or rules adopted thereunder. The process for issuing a cease and desist order is described in Iowa Code section 535B.13.Iowa Admin. Code r. 187-18.20
ARC 8238B, IAB 10/21/09, effective 1/1/10; ARC 9593B, IAB 6/29/11, effective 7/1/11; ARC 9688B, IAB 8/24/11, effective 9/28/11Amended by IAB May 24, 2017/Volume XXXIX, Number 24, effective 7/1/2017