(1) In order to renew a loan originator license, a loan originator must:

(a) Submit a completed license renewal form as prescribed by commission rule.

(b) Submit a nonrefundable renewal fee of $150, the $20 nonrefundable fee if required by s. 494.00172, and nonrefundable fees to cover the cost of further fingerprint processing and retention as set forth in commission rule.

(c) Provide documentation of completion of at least 8 hours of continuing education in courses reviewed and approved by the registry.

(d) Authorize the registry to obtain an independent credit report on the licensee from a consumer reporting agency, and transmit or provide access to the report to the office. The cost of the credit report shall be borne by the licensee.

(e) Submit any additional information or documentation requested by the office and required by rule concerning the licensee. Additional information may include documentation of pending and prior disciplinary and criminal history events, including arrest reports and certified copies of charging documents, plea agreements, judgments and sentencing documents, documents relating to pretrial intervention, orders terminating probation or supervised release, final administrative agency orders, or other comparable documents that may provide the office with the appropriate information to determine eligibility for renewal of licensure.

(2) The office may not renew a loan originator license unless the loan originator continues to meet the minimum requirements for initial licensure pursuant to s. 494.00312 and adopted rule.

(3) If a licensed loan originator fails to meet the requirements of this section for annual license renewal on or before December 31 but meets such requirements before March 1, the loan originator’s license status shall be changed to “failed to renew” pending review and renewal by the office. A nonrefundable reinstatement fee of $150 shall be charged in addition to registry fees. The license status shall not be changed until the requirements of this section are met and all fees are paid. If the licensee fails to meet the requirements of this section and pay all required fees before March 1, such license is expired and such loan originator must apply for a new loan originator license under s. 494.00312.

(4) The office shall waive the fees required by paragraph (1)(b) for a loan originator who:

(a) Is an active duty member of the United States Armed Forces or the spouse of such member;

(b) Is or was a member of the United States Armed Forces and served on active duty within the 2 years preceding the expiration date of the license pursuant to s. 494.00312(7). To qualify for the fee waiver, a loan originator who is a former member of the United States Armed Forces who served on active duty within the 2 years preceding the expiration date of the license must have received an honorable discharge upon separation or discharge from the United States Armed Forces; or

(c) Is the surviving spouse of a member of the United States Armed Forces if the member was serving on active duty at the time of death and died within the 2 years preceding the surviving spouse’s license expiration date pursuant to s. 494.00312(7).

A loan originator seeking such fee waiver must submit proof, in a form prescribed by commission rule, that the loan originator meets one of the qualifications in this subsection.

History.—s. 25, ch. 2009-241; s. 39, ch. 2014-91; s. 15, ch. 2018-7.