Section 57.106 - Surrender of the Registration(a) Surrender Request. A mortgage banker may seek surrender of the registration by filing a registration surrender request (request) in NMLS. The request must be made using the current form prescribed by NMLS. SML will review the request and determine whether to grant it. SML may not grant the request if, among other reasons: (1) the mortgage banker is the subject of a pending or contemplated investigation or enforcement action; (2) the mortgage banker is in violation of an order of the Commissioner;(3) the mortgage banker has failed to pay any fee, charge, or other indebtedness owed to SML; or(4) the mortgage banker has failed to file mortgage call reports required by §57.205 of this title (relating to Mortgage Call Reports).(b) Inactive Status Pending Surrender. If SML does not grant the request or requires additional time to consider the request, the request will be left pending while the issue preventing SML from granting the request is resolved or lapses. During this time, the mortgage banker's registration will be assigned the license status "Approved - Inactive" in NMLS.7 Tex. Admin. Code § 57.106
Adopted by Texas Register, Volume 49, Number 46, November 15, 2024, TexReg 9214, eff. 11/23/2024