When an applicant for a license files the application and pays the fees required by § 11–604 of this subtitle, the Commissioner shall conduct an investigation to determine if the applicant meets the requirements of § 11–605 of this subtitle. The Commissioner shall issue a license to an applicant who meets the requirements of § 11–605 of this subtitle. If the Commissioner notifies an applicant that the application is incomplete: The Commissioner’s notice shall itemize the steps which the applicant must take to complete the application; and The application may not be approved until after the applicant supplies or completes all items and steps identified in the Commissioner’s notice. The Commissioner may deny an application: If the applicant fails to qualify for a license under this subtitle; or For any reason that a license may be revoked or suspended under this subtitle or a mortgage lender license may be suspended or revoked under § 11–517 of this title. The Commissioner shall approve or deny an application within 60 days after the Commissioner receives a completed application.