(a) If a licensee intends to renew a license, the licensee shall submit to the department
(1) a renewal application at a time and in the form and manner established by the department and the registry;
(2) the annual license fee;
(3) if the renewal is for a mortgage license,
(A) a report, as required by regulation, identifying any changes in the information provided to the department; and
(B) current information indicating that the mortgage licensee continues to meet the minimum standards for license issuance;
(4) if the renewal is for a mortgage loan originator license,
(A) a report, as required by regulation, identifying any changes in the information provided to the department;
(B) current information indicating that the mortgage loan originator continues to meet the minimum standards for license issuance;
(C) certificates or other documents showing the mortgage loan originator has satisfied the annual continuing education requirements of AS 06.60.160; and
(D) the fund fee required by AS 06.60.550; and
(5) payment of any other required fees for renewal of the license.
(b) The department may adopt by regulation procedures and deadlines regarding the filing of an application for renewal of a license and the assessment of a penalty or other consequence for late filing, consistent with the requirements of the registry.
(c) The department shall approve or deny the application for renewal of a license not later than 60 days after the renewal application is filed.