ILCS » Chapter 205 · Act 635
Illinois Compiled Statutes

205 ILCS 635/7-6 (2026)

Standards for license renewal

✓ current as of May 2026
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(205 ILCS 635/7-6)
    Sec. 7-6. Standards for license renewal.
    (a) The minimum standards for license renewal for mortgage loan originators shall include the following:
        (1) The mortgage loan originator continues to meet
    
the minimum standards for license issuance under Section 7-3.
        (2) The mortgage loan originator has satisfied the
    
annual continuing education requirements described in Section 7-7.
        (3) The mortgage loan originator has paid all
    
required fees for renewal of the license.
    (b) The license of a mortgage loan originator failing to satisfy the minimum standards for license renewal shall expire. The Director may adopt procedures for the reinstatement of expired licenses consistent with the standards established by the Nationwide Multistate Licensing System and Registry.
(Source: P.A. 100-1153, eff. 12-19-18.)

    
Notes of Decisions
Cited in 1 case, 2013–2013 · leading case: Wilson v. The Dep't of Fin. & Prof'l Reg., 2013 IL App (1st) 121509 (Ill. App. Ct. 2013).
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Wilson v. The Dep't of Fin. & Prof'l Reg., 2013 IL App (1st) 121509 (Ill. App. Ct. 2013). “205 ILCS 635/7-6 (West 2010). Thus, section 7-3 governs all mortgage loan originators, whether they be novice, first-time license applicants; experienced professionals who have relocated and apply for their first licensing in Illinois; or experienced Illinois renewals, like…”
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