Can a company license be inactivated and what are the requirements to inactivate and then to reactivate the license?
A mortgage broker, mortgage banker, and independent covered service provider, foreclosure consultant and loan modification consultant may, at the sole discretion and approval of the Commissioner, inactivate its license, one time only, for a period not to exceed six months or until the expiration date of the license, whichever occurs first. (Mortgage brokers and mortgage bankers who have balances in trust and/or escrow accounts and escrow agencies may not inactivate their licenses.) Additionally, inactivation does not impact the Divisions authority to conduct examinations or investigations pursuant to law, nor does it remove a licensees responsibility to pay assessed Attorney General or CPA assessments, or any other fees and fines due the Division. To inactivate a license, the Division requires a licensee to complete a Request for Temporary Inactivation of License, which may be found on the Divisions Web site under the forms link. Along with the inactivation form, a licensee must submit
