reglab/housing_qa huggingface dataset:
MD. Financial Institutions Code Ann. §  11-505 (2021)
2021 Maryland Statutes|Financial Institutions|Title 11 - Consumer Credit|Subtitle 5 - Maryland Mortgage Lender Law|Section 11-505 - Licenses and Licensees Generally

    (a)    A license issued under this subtitle authorizes the licensee to act as a mortgage lender under the license at the licensed place of business.    (b)    Only one place of business may be maintained under any one license.    (c)    A mortgage lender may maintain more than one license under this subtitle provided that a separate application for each license is made pursuant to § 11–507 of this subtitle and the Commissioner approves such application.    (d)    (1)    The Commissioner shall include on each license:            (i)    The name of the licensee; and            (ii)    The address at which the business is to be conducted.        (2)    A person may not conduct any mortgage loan business at any location or under any name different from the address and name that appears on the person’s license.    (e)    (1)    A licensee may not allow any note, or loan contract, mortgage, or evidence of indebtedness secured by a secondary mortgage or deed of trust on a dwelling or residential real estate to be signed or executed at any place for which the person does not have a license, except at the office of:            (i)    The attorney for the borrower or for the licensee; or            (ii)    A title insurance company, a title company, or an attorney for a title insurance company or a title company.        (2)    Notwithstanding paragraph (1) of this subsection, a licensee may conduct the loan closing at another location at the written request of the borrower or the borrower’s designee to accommodate the borrower because of the borrower’s sickness.        (3)    The Commissioner shall adopt regulations to ensure that the loan application process is conducted fairly and in a manner consistent with the best interests of both the borrower and mortgage lender.    (f)    A license may be issued under this subtitle to a business entity whose principal office is located outside this State provided that the business entity maintains a resident agent within the State at all times during the term of the license, regardless of whether:        (1)    The business entity maintains any office within the State; or        (2)    The activities of the business entity constitute doing business or having a tax situs in this State under the applicable provisions of the Corporations and Associations Article.    (g)    A person exempt from licensing under this subtitle who employs a mortgage loan originator licensed under Subtitle 6 of this title shall be registered with the Nationwide Mortgage Licensing System and Registry.
MD. Financial Institutions Code Ann. §  11-506 (2021)
2021 Maryland Statutes|Financial Institutions|Title 11 - Consumer Credit|Subtitle 5 - Maryland Mortgage Lender Law|Section 11-506 - Qualifications for License

    (a)    To qualify for a license, an applicant shall satisfy the Commissioner that the applicant is of good moral character and has sufficient financial responsibility, business experience, and general fitness to:        (1)    Engage in business as a mortgage lender;        (2)    Warrant the belief that the business will be conducted lawfully, honestly, fairly, and efficiently; and        (3)    Command the confidence of the public.    (b)    (1)    To qualify for a license, the applicant shall satisfy the Commissioner that the applicant has at least 3 years of experience in the mortgage lending business.        (2)    If the applicant is a sole proprietor, the applicant shall have the required experience.        (3)    If the applicant is a joint venture, or general or limited partnership, at least one of the coventurers or general partners shall have the required experience.        (4)    If the applicant is a business entity of any other kind, type, or classification, at least one of the principal officers or members shall have the required experience.    (c)    (1)    Except as provided in paragraph (2) of this subsection, the Commissioner may deny an application for a license to any person who has been officially reprimanded or has committed any act that would be a ground for suspension or revocation of a license under this subtitle.        (2)    The Commissioner shall deny an application for a license filed by:            (i)    An individual who has been convicted within the last 10 years of a felony involving fraud, theft, or forgery; and            (ii)    An entity that has a director, officer, partner, member, or owner of 10 percent or more of the entity who has been convicted within the last 10 years of a felony involving fraud, theft, or forgery.
MD. Financial Institutions Code Ann. §  11-507 (2021)
2021 Maryland Statutes|Financial Institutions|Title 11 - Consumer Credit|Subtitle 5 - Maryland Mortgage Lender Law|Section 11-507 - Applications for Licenses

    (a)    (1)    To apply for a license, an applicant shall:            (i)    Complete, sign, and submit to the Commissioner an application made under oath in the form, and in accordance with the process, that the Commissioner requires; and            (ii)    Provide all information that the Commissioner requests.        (2)    The applicant shall comply with all conditions and provisions of the application for licensure and be issued a license before acting as a mortgage lender at a particular location.    (b)    With each application, the applicant shall pay to the Commissioner the following fees:        (1)    A nonrefundable investigation fee set by the Commissioner; and        (2)    A nonrefundable license fee set by the Commissioner.    (c)    In addition to the license fee required under subsection (b)(2) of this section, an applicant for an initial license shall pay to the Nationwide Mortgage Licensing System and Registry any fees that the Nationwide Mortgage Licensing System and Registry imposes in connection with the application.    (d)    For each license for which an applicant applies, the applicant shall:        (1)    Submit a separate application;        (2)    Pay a separate nonrefundable license fee;        (3)    Pay any application processing fee or other fees that the Nationwide Mortgage Licensing System and Registry imposes in connection with the application;        (4)    If applicable, pay the surcharge; and        (5)    File a separate surety bond or other financial guaranty under § 11–508 of this subtitle.    (e)    In addition to any sanctions that may be imposed under this subtitle by the Commissioner, a nonrefundable surcharge of $500 shall be paid with an application if the applicant has begun acting as a mortgage lender without a license at the location for which an application is filed.    (f)    A person who knowingly makes a false statement under oath on an application filed with the Commissioner under this section is guilty of perjury and on conviction is subject to the penalties of § 9–101 of the Criminal Law Article.
MD. Financial Institutions Code Ann. §  11-509 (2021)
2021 Maryland Statutes|Financial Institutions|Title 11 - Consumer Credit|Subtitle 5 - Maryland Mortgage Lender Law|Section 11-509 - Investigation of Applicant; Issuance of License

    (a)    When an applicant for a license files the application and bond and pays the fees required by § 11-507 of this subtitle, the Commissioner shall investigate to determine if the applicant meets the requirements of § 11-506 of this subtitle.    (b)    The Commissioner shall approve or deny each application for a license within 60 days after the date when the application and bond are filed and the fees are paid.    (c)    The Commissioner shall issue a license to any applicant who meets the requirements of this subtitle.
MD. Financial Institutions Code Ann. §  11-510 (2021)
2021 Maryland Statutes|Financial Institutions|Title 11 - Consumer Credit|Subtitle 5 - Maryland Mortgage Lender Law|Section 11-510 - Denial of License

    (a)    If an applicant does not meet the requirements of this subtitle, the Commissioner shall:        (1)    Immediately notify the applicant in writing of this fact;        (2)    Return the bond filed under § 11-508 of this subtitle;        (3)    Refund the license fee; and        (4)    Keep the investigation fee.    (b)    Within 30 days after the Commissioner denies an application, the Commissioner shall:        (1)    File in the Commissioner’s office a written decision containing the findings and conclusions on which the denial was based;        (2)    Send a copy of the decision to the applicant; and        (3)    Advise the applicant by certified mail of the applicant’s right to a hearing to be held in accordance with the Administrative Procedure Act.    (c)    (1)    An applicant who seeks a hearing on a license application denial shall file a written request for a hearing within 45 days following receipt of the advice to the applicant of the applicant’s right to a hearing.        (2)    A hearing date established in response to the filing of a notice under this subsection may be postponed only once for a period of up to 30 days after the initial hearing date.
MD. Financial Institutions Code Ann. §  11-511 (2021)
2021 Maryland Statutes|Financial Institutions|Title 11 - Consumer Credit|Subtitle 5 - Maryland Mortgage Lender Law|Section 11-511 - Term and Renewal of Licenses

    (a)    Subject to any regulations the Commissioner adopts in connection with the transition to the Nationwide Mortgage Licensing System and Registry, an initial license term shall:        (1)    Begin on the day the license is issued; and        (2)    Expire on December 31 of the year:            (i)    The license is issued, if the license is issued before November 1; or            (ii)    Succeeding the year that the license is issued, if the license is issued on or after November 1.    (b)    At least 60 days before its expiration, a license may be renewed if the licensee:        (1)    Otherwise is entitled to be licensed;        (2)    Pays to the Commissioner a nonrefundable renewal fee set by the Commissioner; and        (3)    Submits to the Commissioner:            (i)    A renewal application on the form that the Commissioner requires; and            (ii)    Satisfactory evidence of compliance with any continuing education requirements set by regulations adopted by the Commissioner.    (c)    Subject to any regulations the Commissioner adopts in connection with the transition to the Nationwide Mortgage Licensing System and Registry, a renewal term shall:        (1)    Be for a period of 1 year;        (2)    Begin on January 1 of each year after the initial term; and        (3)    Expire on December 31 of the year the renewal term begins.    (d)    In addition to the license renewal fee required under subsection (b)(2) of this section, an applicant for a license renewal shall pay to the Nationwide Mortgage Licensing System and Registry any fees that the Nationwide Mortgage Licensing System and Registry imposes in connection with the renewal application.    (e)    If a license is surrendered voluntarily, or is suspended or revoked, the Commissioner may not refund any part of the license fee regardless of the time remaining in the license term.
MD. Financial Institutions Code Ann. §  11-511.1 (2021)
2021 Maryland Statutes|Financial Institutions|Title 11 - Consumer Credit|Subtitle 5 - Maryland Mortgage Lender Law|Section 11-511.1 - Continuing Education

    (a)    By July 1, 2000, the Commissioner shall adopt regulations that set continuing education requirements as a condition to the renewal of licenses under this subtitle.    (b)    Any continuing education requirements established by the Commissioner under this section shall apply to the first renewal of a license.
MD. Financial Institutions Code Ann. §  11-513 (2021)
2021 Maryland Statutes|Financial Institutions|Title 11 - Consumer Credit|Subtitle 5 - Maryland Mortgage Lender Law|Section 11-513 - Books and Records

    (a)    Each licensee shall keep and make available to the Commissioner at the licensee’s place of business any books and records that the Commissioner, by rule or regulation, requires to enable the Commissioner to enforce:        (1)    This subtitle;        (2)    Any rule or regulation adopted under this subtitle; and        (3)    Any other provision regulating the application, making, brokering, or servicing of mortgage loans under Titles 12 through 14 of the Commercial Law Article.    (b)    Subject to approval by the Commissioner, nothing in this section is to be construed to prohibit a licensee from maintaining duplicate records or electronic equivalents at the licensee’s place of business.    (c)    Notwithstanding subsection (a) of this section, on approval of the Commissioner, a licensee need not keep at the licensee’s place of business any books and records otherwise required by the Commissioner under subsection (a) of this section if the licensee:        (1)    Makes the books and records available to the Commissioner at the licensee’s place of business within 5 business days of the Commissioner’s official request; and        (2)    Retains the records for at least 61 months in a storage facility disclosed to the Commissioner.
MD. Financial Institutions Code Ann. §  11-513.1 (2021)
2021 Maryland Statutes|Financial Institutions|Title 11 - Consumer Credit|Subtitle 5 - Maryland Mortgage Lender Law|Section 11-513.1 - Quarterly Call Reports

    (a)    A licensee shall submit to NMLS a call report once each quarter on the date, in the form, and containing the information required by NMLS.    (b)    A mortgage lender who is exempt from licensing under this subtitle shall submit the call reports required under subsection (a) of this section on behalf of its mortgage loan originators licensed under Subtitle 6 of this title.
MD. Financial Institutions Code Ann. §  11-514 (2021)
2021 Maryland Statutes|Financial Institutions|Title 11 - Consumer Credit|Subtitle 5 - Maryland Mortgage Lender Law|Section 11-514 - Surrender of License

    (a)    A licensee may surrender a license by sending to the Commissioner the license and a written statement that the license is surrendered.    (b)    The surrender of a license does not affect any civil or criminal liability of a licensee for acts committed before the license was surrendered.
MD. Financial Institutions Code Ann. §  11-515 (2021)
2021 Maryland Statutes|Financial Institutions|Title 11 - Consumer Credit|Subtitle 5 - Maryland Mortgage Lender Law|Section 11-515 - Investigatory Powers and Duties of Commissioner; Complaints

    (a)    (1)    The Commissioner shall examine the business of each licensee:            (i)    In accordance with a schedule established by the Commissioner; and            (ii)    At any other time that the Commissioner reasonably considers necessary.        (2)    The schedule established by the Commissioner under paragraph (1)(i) of this subsection shall:            (i)    Take into account:                1.    The length of time the licensee has been engaged in business as a mortgage lender;                2.    Any prior violations by the licensee of the mortgage lending law or regulations;                3.    The nature and number of any complaints made against the licensee; and                4.    The result of findings from any prior examination of the licensee; and            (ii)    Provide that:                1.    New licensees shall be examined within 18 months after the date the license is issued; and                2.    Each licensee shall be examined at least once during any 60–month period.    (b)    (1)    Any person aggrieved by the conduct of a licensee under this subtitle in connection with a mortgage loan may file a written complaint with the Commissioner who shall investigate the complaint.        (2)    The Commissioner may make any other investigation of any person if the Commissioner has reasonable cause to believe that the person has violated any provision of this subtitle, of any regulation adopted under this subtitle, or of any other law regulating mortgage loan lending in the State.    (c)    A licensee shall pay to the Commissioner a per–day fee set by the Commissioner for each of the Commissioner’s employees engaged in:        (1)    An examination required under subsection (a)(1) of this section; and        (2)    Any other examination or investigation conducted under this section that the Commissioner reasonably considers necessary.    (d)    In connection with an examination or investigation made under this section, the Commissioner may:        (1)    Examine the books and records of any licensee or of any other person who the Commissioner believes has violated any provision of this subtitle, or any rule or regulation adopted under this subtitle, or of any other law regulating mortgage loan lending in the State;        (2)    Subpoena documents or other evidence; and        (3)    Summon and examine under oath any person whose testimony the Commissioner requires.    (e)    (1)    If any person fails to comply with a subpoena or summons of the Commissioner under this subtitle or to testify concerning any matter about which the person may be interrogated under this subtitle, the Commissioner may file a petition for enforcement with the circuit court for any county.        (2)    On petition by the Commissioner, the court may order the person to attend and testify or produce evidence.
MD. Financial Institutions Code Ann. §  11-516 (2021)
2021 Maryland Statutes|Financial Institutions|Title 11 - Consumer Credit|Subtitle 5 - Maryland Mortgage Lender Law|Section 11-516 - Order to Stop Doing Business

    (a)    If the Commissioner finds that the conduct of any other business conceals a violation or evasion of this subtitle or of any rule or regulation adopted under this subtitle, or of any law regulating mortgage loan lending in the State, the Commissioner may issue a written order to a licensee to:        (1)    Stop doing business at any place in which the other business is conducted or solicited; or        (2)    Stop doing business in association or conjunction with the other business.    (b)    A licensee who violates an order of the Commissioner issued under this section shall be subject to the penalties provided by § 11-517 of this subtitle.    (c)    The Commissioner may file a petition in the circuit court for any county seeking enforcement of an order under this section.
MD. Financial Institutions Code Ann. §  11-518 (2021)
2021 Maryland Statutes|Financial Institutions|Title 11 - Consumer Credit|Subtitle 5 - Maryland Mortgage Lender Law|Section 11-518 - Hearings

    (a)    Before the Commissioner takes any action under § 11-516 or § 11-517 of this subtitle, the Commissioner shall give the licensee an opportunity for a hearing.    (b)    Notice of the hearing shall be given and the hearing shall be held in accordance with the Administrative Procedure Act.    (c)    The hearing notice to the licensee shall be sent by certified mail, return receipt requested, to the principal place of business of the licensee at least 30 days before the hearing.
MD. Financial Institutions Code Ann. §  11-519 (2021)
2021 Maryland Statutes|Financial Institutions|Title 11 - Consumer Credit|Subtitle 5 - Maryland Mortgage Lender Law|Section 11-519 - Reinstatement of Suspended License; Issuance of New License After Revocation

    The Commissioner may reinstate a suspended license or issue a new license to a person whose license has been revoked if, after investigation, the Commissioner is satisfied that the conditions that were the cause for the suspension or revocation have been corrected and are unlikely to recur.
MD. Financial Institutions Code Ann. §  11-520 (2021)
2021 Maryland Statutes|Financial Institutions|Title 11 - Consumer Credit|Subtitle 5 - Maryland Mortgage Lender Law|Section 11-520 - Trade Names

    A mortgage lender may not do business under any trade name that misrepresents or tends to misrepresent that the mortgage lender is:         (1)    A bank, trust company, or savings bank;        (2)    A savings and loan association;        (3)    A credit union; or        (4)    An insurance company.
MD. Financial Institutions Code Ann. §  11-521 (2021)
2021 Maryland Statutes|Financial Institutions|Title 11 - Consumer Credit|Subtitle 5 - Maryland Mortgage Lender Law|Section 11-521 - Independent Evidence of Commercial Purpose

    (a)    A mortgage lender shall require a borrower to provide the mortgage lender with independent evidence of the commercial purpose of the loan where the loan is:        (1)    Secured, in whole or in part, by any interest in a dwelling or residential real estate in Maryland; and        (2)    In excess of $75,000.    (b)    Other than the requirements of subsection (a) of this section, a mortgage lender is not required to make an independent investigation to obtain independent evidence of the commercial purpose.
MD. Financial Institutions Code Ann. §  11-523 (2021)
2021 Maryland Statutes|Financial Institutions|Title 11 - Consumer Credit|Subtitle 5 - Maryland Mortgage Lender Law|Section 11-523 - Penalties

    (a)    Any person who willfully violates any provision of this subtitle or any rule or regulation adopted under it is guilty of a felony and on conviction is subject to a fine not exceeding $50,000 or imprisonment not exceeding 10 years or both.    (b)    Any unlicensed person who is not exempt from licensing under this subtitle who makes or assists a borrower in obtaining a mortgage loan in violation of this subtitle may collect only the principal amount of the loan and may not collect any interest, costs, finder’s fees, broker fees, or other charges with respect to the loan.    (c)    Any mortgage lender or employee or agent of a mortgage lender who willfully misappropriates or intentionally and fraudulently converts to the mortgage lender’s or to the mortgage lender’s employee’s or agent’s own use money in excess of $300 rightfully belonging to a borrower, or who otherwise commits any fraudulent act in the course of engaging in the mortgage lending business is guilty of a felony and on conviction is subject to a fine not to exceed $100,000 or imprisonment not exceeding 15 years or both.
MD. Financial Institutions Code Ann. §  11-524 (2021)
2021 Maryland Statutes|Financial Institutions|Title 11 - Consumer Credit|Subtitle 5 - Maryland Mortgage Lender Law|Section 11-524 - Short Title

    This subtitle may be cited as the Maryland Mortgage Lender Law.