Texas Register, Volume 36, Number 44, Pages 7417-7610, November 4, 2011 Page: 7,514
7417-7610 p. ; 28 cm.View a full description of this periodical.
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(2) the applicant is not in violation of the Act, a rule
adopted under this chapter, or any order previously issued to the
applicant by the Commissioner;
(3) the applicant has not been convicted of, or pled guilty
or no contest to, a felony in a domestic, foreign, or military court during
the seven-year period preceding the date of the application;
(4) at any time preceding the date of the application, the
applicant has not been convicted of, or pled guilty or no contest to, a
felony in a domestic, foreign, or military court involving fraud, dishon-
esty, breach of trust, or money laundering;
(5) the applicant demonstrates the financial responsibility,
good moral character, and general fitness necessary to operate in an
honest, trustworthy, fair, and efficient manner as a Residential Mort-
gage Loan Originator under the Act;
(6) the applicant has successfully completed at least 20
hours pre-licensing education courses approved by the Nationwide
Mortgage Licensing System and Registry;
(7) the applicant has passed both the state component and
the national component of a written test that meets the requirements of
Finance Code 180.057; and
(8) the applicant is a citizen of the United States or a law-
fully admitted alien.
(k) The Commissioner may require such additional, clarify-
ing, or supplemental information from any applicant for the issuance
of any license pursuant to the Act as is deemed necessary or advisable
to determine that the requirements of the Act have been met.
(1) The fees for the application of a license or registration shall
be established by the Commissioner. The amount of the fees may be
modified upon not less than 30 days advance notice posted on the De-
partment's website. Fees are nonrefundable and nontransferable.
80.305. Renewals.
(a) A license may be renewed upon:
(1) the submission of a completed application for renewal
through the Nationwide Mortgage Licensing System and Registry to-
gether with the payment of the applicable renewal application fee;
(2) determination that the applicant continues to meet the
minimum requirements for license issuance; and
(3) providing satisfactory evidence to the Commissioner
that the license holder has completed the continuing education require-
ments of Finance Code 180.060.
(b) A renewal of a license may be denied if:
(1) the license holder has been convicted of, pled guilty or
no contest to, a felony in a domestic, foreign, or military court during
the term of the license;
(2) the license holder is in violation of the Act, a rule
adopted under this chapter, or any order previously issued to the
licensee by of the Commissioner;
(3) the license holder is in default in the payment of any
administrative penalty, fee, charge, or other indebtedness owed under
the Act;
(4) during the current term of the license, the Commis-
sioner becomes aware of any fact that would have been grounds for
denial of an original license if the fact had been known by the Com-
missioner on the date the license was granted; or(5) the Residential Mortgage Loan Originator is in default
on a student loan administered by the Texas Guaranteed Student Loan
Corporation, pursuant to Education Code 57.491.
(c) A licensed individual on active duty in the United States
armed forces serving outside of this state shall be exempt from any late
filing penalty fee imposed for renewing after the expiration date of the
license pursuant to 55.001, et seq, Occupations Code.
(d) A licensed individual who is a member of the state military
forces or a reserve component of the armed forces of the United States,
and is ordered to active duty by the proper authority is entitled to an
additional amount of time, equal to the total number of years or parts
of years that the individual serves on activity duty, to complete any
continuing education requirements and other requirements related to
the renewal of the license, pursuant to 55.001, et seq, Occupations
Code.
(e) The Commissioner may require such additional, clarifying,
or supplemental information from any applicant for the renewal of any
license pursuant to the Act as is deemed necessary or advisable to de-
termine that the requirements of the Act have been met.
(f) The fees for the application of a license or registration shall
be established by the Commissioner. The amount of the fees may be
modified upon not less than 30 days advance notice posted on the De-
partment's website. Fees are nonrefundable and nontransferable.
80.307. Background Checks.
(a) In connection with each application for a Residential Mort-
gage Loan Originator license under the Act, the applicant shall provide
authorization and fingerprints as prescribed by the Nationwide Mort-
gage Licensing System and Registry necessary to conduct a criminal
background history check through the Federal Bureau of Investigation.
(b) In connection with each application for a Residential Mort-
gage Loan Originator license under the Act, the Commissioner may
conduct a criminal background history check through the Department
of Public Safety.
(c) In connection with each application for the issuance of a
Residential Mortgage Loan Originator license under the Act, the appli-
cant shall provide authorization for the Nationwide Mortgage Licens-
ing System and Registry and the Commissioner to obtain an indepen-
dent credit report from a consumer reporting agency.
(d) Each applicant for licensure under the Act shall provide to
the Commissioner and the Nationwide Mortgage Licensing System and
Registry information related to any administrative, civil, or criminal
findings by a governmental jurisdiction.
(e) The Commissioner shall keep confidential any background
information obtained under this section and 156.206 of the Act and
may not release or disclose the information unless:
(1) the information is a public record at the time the Com-
missioner obtains the information; or
(2) the Commissioner releases the information:
(A) under order from a court;
(B) with the permission of the applicant;
(C) to a person through whom the applicant is conduct-
ing or will conduct business; or
(D) to a governmental agency.
(f) Notwithstanding subsection (d) of this section, criminal
history record information obtained from the Federal Bureau of Inves-
tigation may be released or disclosed only to a governmental entity36 TexReg 7514 November 4, 2011 Texas Register
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Texas. Secretary of State. Texas Register, Volume 36, Number 44, Pages 7417-7610, November 4, 2011, periodical, November 4, 2011; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth193249/m1/94/: accessed April 19, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.