DEPARTMENT OF REGULATORY AGENCIES
DIVISION OF REAL ESTATE
MORTGAGE LOAN ORIGINATORS
4 CCR 725-3

CHAPTER 4:  RENEWAL, REINSTATEMENT, INACTIVATION, SUSPENSION, SURRENDER OR  
                        REVOCATION OF A LICENSE OR REGISTRATION
4.3 	Re-application. 

A.	Individuals who fail to maintain an active valid license for at least three (3) years must satisfactorily complete the twenty (20) hours of pre-licensing education within the three (3) year period immediately preceding the date of application for licensure.
B.	Individuals who fail to maintain a valid license for a period of up to five (5) years after the date of license expiration and were compliant with the annual continuing education requirements at the time of license expiration must complete the following: 

1.	Comply with the requirements set forth in section (A) of this Rule (if applicable);
2.	Register with the Nationwide Mortgage Licensing System and Registry in accordance with policies and procedures established by the Nationwide Mortgage Licensing System and Registry. This includes, but is not limited to completion of the correct registration application, authorization for the registry to pull a credit report and payment of any fees associated with registration; 

3.	Submit fingerprints to the Nationwide Mortgage Licensing System and Registry in accordance with policies and procedures established by the Nationwide Mortgage Licensing System and Registry; 

 4. 	Obtain a compliant surety bond in accordance with Section 12-61-907, C.R.S. and Board Rule 2.19;
 5. 	Obtain compliant errors and omissions insurance in accordance with Section 12-61-903.5, C.R.S. and Board Rule 2.23; and 

 6. 	Complete the Colorado Division of Real Estate specific application and pay the application fee. 

 C. 	Individuals who fail to maintain a valid license for a period of up to five (5) years after the date of license expiration and who were not compliant with the annual continuing education requirements at the time of license expiration must complete the following: 

1.	Comply with all requirements set forth in section (B), subsection (1) to (6) of this Rule, and 

2.	Complete at least eight (8) hours of “late” continuing education courses, which must include one (1) hour of Colorado specific education, reviewed and approved by the Nationwide Mortgage Licensing System and Registry or by a company contracted to review and approve continuing education courses; 

 D. 	Individuals who fail to maintain a valid license for a period of more than five (5) years after the date of license expiration must complete the following: 

1.	Comply with all requirements set forth in section (C), subsection (1) and (2) of this Rule; and 

2.	Retake and successfully pass the S.A.F.E. Mortgage Loan Originator examination, developed by the Nationwide Mortgage Licensing System and Registry, consisting of two sections. These two sections include a national component and a Uniform State Test (UST) component. An individual shall pass the test in accordance with policies and procedures developed and administered by the Nationwide Mortgage Licensing System and Registry and in compliance with the S.A.F.E. Mortgage Licensing Act.