187—18.20 (17A,535B) Disciplinary action.
	 18.20(1) The administrator has authority pursuant to Iowa Code chapters 535B and 17A to impose discipline for violations of Iowa Code chapter 535B and the rules promulgated thereunder.
	 18.20(2) Grounds for discipline. The administrator may impose any of the disciplinary sanctions set out in Iowa Code section 535B.7 when the administrator finds any of the following:
	  a.   	 The licensee or individual registrant has violated a provision of Iowa Code chapter 535B or a rule adopted under Iowa Code chapter 535B or any other state or federal law applicable to the conduct of mortgage banking or mortgage brokering, including but not limited to Iowa Code chapters 535 and 535A.
	  b.   	 A fact or condition exists which, if it had existed at the time of the original application for the license or individual registration, would have warranted the administrator to refuse originally to issue the license or individual registration.
	  c.   	 The licensee is found upon investigation to be insolvent, in which case the license shall be revoked immediately.
	  d.   	 The licensee or individual registrant has violated an order of the administrator.
	  e.   	 The licensee or individual registrant fails to fully cooperate with an examination or investigation, including failure to respond to an administrator inquiry within 30 calendar days of the date of mailing a written communication directed to the licensee’s or individual registrant’s last-known address on file with the administrator.
	  f.   	 The licensee or individual registrant has engaged in any conduct that subverts or attempts to subvert an examination or investigation by the administrator.
	  g.   	 The licensee or individual registrant continues to operate as a mortgage banker or mortgage broker without an active and current license or individual registration.
	  h.   	 The individual registrant continues to act as a mortgage banker or mortgage broker without first satisfying the required continuing education, absent an express waiver granted by the administrator.
	  i.   	 The individual registrant has submitted a false report of continuing education.
	  j.   	 The licensee or individual registrant fails to notify the administrator within three days of the occurrence of one of the significant events set forth in rule 18.7(17A,535B).
	  k.   	 Another state or jurisdiction has denied, suspended, revoked, or refused to renew the licensee’s or the individual registrant’s license, registration, or authorization to act as a mortgage banker or mortgage broker under the other state’s or jurisdiction’s law.
	  l.   	 The licensee or individual registrant fails to create and maintain complete and accurate records as required by state or federal law, regulation, or rule.
	 18.20(3) A licensee or individual registrant may surrender a license or individual registration by delivering to the administrator a written notice of surrender.
	 18.20(4) The administrator may issue a cease and desist order ordering a person to cease and desist from violating any provision of Iowa Code chapter 535B or rules adopted thereunder. The process for issuing a cease and desist order is described in Iowa Code section 535B.13.