(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, §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, §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, §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.

Source Note: The provisions of this §2.201 adopted to be effective November 7, 2013, 38 TexReg 7681; amended to be effective September 5, 2019, 44 TexReg 4706