When may a mortgage loan originator whose license has expired still engage with loan terms?

A mortgage loan originator whose license has expired may still engage with loan terms if the application for renewal was received before the license expired. When a loan originator submits a renewal application on time, it allows them to continue performing their duties and interacting with clients until the renewal process is complete. This is based on the understanding that timely application for renewal demonstrates the loan originator's intention to maintain their licensure and continue in the profession.

This rule is in place to ensure that there is a seamless transition for both the loan originator and their clients, minimizing any disruption in service as long as the proper steps are taken prior to the expiration of the license. Therefore, this provision provides a level of protection not only for the originating professionals but also for consumers looking for ongoing support in their mortgage processes.