Section 2.201 - License Term, Renewal, and Expiration(a) License term. A new residential mortgage loan originator license is effective from the date of its issuance until December 31. A license must be renewed annually in order to remain effective. After renewal, a license is effective for a term of one year, from January 1 to December 31.(b) Requirements. A license may be renewed if:(1) the RMLO submits a completed application for renewal through the NMLS together with the payment of the applicable renewal application fee;(2) the OCCC determines that the RMLO continues to meet the minimum requirements for license issuance, including financial responsibility, character, and general fitness, as provided in Texas Finance Code, § RSA 180.055, and subsection (g) of this section; and(3) the RMLO provides satisfactory evidence that the RMLO has completed the continuing education requirements of Texas Finance Code, § RSA 180.060.(c) Due date for annual fees. Annual renewal fees are due by December 31 of each year. (d) Expiration. A residential mortgage loan originator license expires on December 31 if the annual renewal fee has not been paid by December 31. After expiration, a license may be reinstated during the period from January 1 through the last day of February.(e) Rejection of renewal. Renewal of a license may be rejected for reasons provided in Texas Finance Code, § RSA 180.201.(f) Additional information. The OCCC may require additional, clarifying, or supplemental information from any applicant for the renewal of a license pursuant to Texas Finance Code, Chapter 180 in order to determine compliance with the law.(g) Additional background checks. After initial issuance of a license, the OCCC may require additional criminal and credit background checks in order to determine an RMLO's continuing compliance with the law.7 Tex. Admin. Code § 2.201
The provisions of this §2.201 adopted to be effective November 7, 2013, 38 TexReg 7681; Amended by Texas Register, Volume 44, Number 35, August 30, 2019, TexReg 4706, eff. 9/5/2019