A. The minimum standards for license renewal for mortgage lenders shall include the following:
1. The mortgage lender continues to meet the minimum standards for license issuance under the Oklahoma Secure and Fair Enforcement for Mortgage Licensing Act; and 2. The mortgage lender has paid all required fees for renewal of the license. B. The license of a mortgage lender failing to satisfy the minimum standards for license renewal shall expire. The Administrator of Consumer Credit may adopt procedures in addition to the requirements set forth in paragraph 12 of subsection K of Section 2095.6 of this title for the reinstatement of expired licenses consistent with the standards established by the Nationwide Multistate Licensing System and Registry.