reglab/statecodes huggingface dataset:
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 4 - Sales Finance Companies -- Licensing Provisions › Section 11-417 - Effect of Surrender, Suspension, or Revocation

(a)    The surrender, suspension, or revocation of a license does not impair or affect any obligation under any agreement that the licensee entered into or acquired before the license was surrendered, suspended, or revoked.
(b)    In enforcing an agreement and in dealing with the parties to that agreement, a person whose license has been surrendered, suspended, or revoked remains subject to this subtitle, including the authority of the Commissioner to examine and investigate under § 11-413 of this subtitle.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 4 - Sales Finance Companies -- Licensing Provisions › Section 11-418 - Incorrect Statements Prohibited

A person may not knowingly:
(1)    Make an incorrect statement of material fact in any application, report, or other statement filed under this subtitle; or
(2)    Fail to state any material fact that is necessary to give the Commissioner any information that the Commissioner requires under this subtitle.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 5 - Maryland Mortgage Lender Law › Section 11-503.1 - Fee Regulations

(a)    The Commissioner shall set by regulation the fees provided for in this subtitle.
(b)    The fees established by the Commissioner under this section shall be reasonable and set in a manner that will produce funds sufficient to cover the actual direct and indirect costs of regulating licensees in accordance with the provisions of this subtitle.
(c)    The Commissioner shall publish the fee schedule set by the Commissioner.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 5 - Maryland Mortgage Lender Law › Section 11-503.2 - Credit of Revenue From Licensing and Payment of Fines and Penalties Into Various Funds

(a)    All revenue received for the licensing of persons under this subtitle and any other fee, examination or investigation fee or assessment, or revenue received by the Commissioner under this subtitle shall be:
(1)    Credited to the Nondepository Special Fund established under § 11–610 of this title; and
(2)    Used in accordance with § 11–610(c) of this title.
(b)    Notwithstanding subsection (a) of this section, the Commissioner shall pay all fines and penalties collected by the Commissioner under this subtitle into the General Fund of the State.
2023 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)    (i)    Each license provided for through NMLS shall include the following information:
1.    The name of the licensee;
2.    The address at which the business is to be conducted; and
3.    The unique identifier of the licensee.
(ii)    The unique identifier of the licensee shall constitute the license number for the license.
(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.
2023 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.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 5 - Maryland Mortgage Lender Law › Section 11-506.1 - Exemptions From License Requirement; Fingerprinting

(a)    This section does not apply to any corporation the securities of which are exempt from registration under § 11–601(8) or (12) of the Corporations and Associations Article.
(b)    In connection with an initial application for a license under § 11–507 of this subtitle, and at any other time the Commissioner requests, an applicant or licensee shall provide to the Nationwide Mortgage Licensing System and Registry information concerning the applicant’s identity, including:
(1)    Fingerprints for submission to the Federal Bureau of Investigation, and any other governmental agency or entity authorized to receive this information, for a state, national, or international criminal history background check; and
(2)    Personal history and experience in a form prescribed by the Nationwide Mortgage Licensing System and Registry, including the submission of authorization for the Nationwide Mortgage Licensing System and Registry and the Commissioner to obtain:
(i)    An independent credit report from a consumer reporting agency described in the federal Fair Credit Reporting Act, 15 U.S.C. § 1681a(p); and
(ii)    Information related to any administrative, civil, or criminal findings by any governmental jurisdiction.
(c)    The Commissioner may request from the Federal Bureau of Investigation or the Nationwide Mortgage Licensing System and Registry, as applicable, for each applicant or licensee who is required to provide fingerprints under subsection (b) of this section:
(1)    (i)    The state, national, or international criminal history records of the applicant or licensee; and
(ii)    A printed statement listing any conviction or other disposition of, and any plea of guilty or nolo contendere to, any criminal charge;
(2)    (i)    An update of the initial criminal history records check or criminal history background check of the applicant or licensee; and
(ii)    A revised statement listing any conviction or other disposition of, and any plea of guilty or nolo contendere to, any criminal charge occurring after the date of the initial criminal history records check or criminal history background check; and
(3)    An acknowledged receipt of the application for a criminal history records check or criminal history background check of the applicant or licensee.
(d)    An applicant or licensee who is required to provide fingerprints under subsection (b) of this section shall pay any processing or other fees required by the Federal Bureau of Investigation and the Nationwide Mortgage Licensing System and Registry.
(e)    To implement this subtitle, the Commissioner may use the Nationwide Mortgage Licensing System and Registry as a channeling agent to request information from and distribute information to the Department of Justice, any other governmental agency with subject matter jurisdiction, and any other state licensing entity that has loan originators registered with the Nationwide Mortgage Licensing System and Registry.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 5 - Maryland Mortgage Lender Law › Section 11-512.1 - Information Posted by Licensee at Licensed Location and on Website -- Exclusion

(a)    Each licensee shall conspicuously post, in 48 point or larger type, at the licensee’s licensed location the following information:
(1)    The licensee’s unique identifier; and
(2)    A statement advising consumers of the availability of the NMLS Consumer Access website to verify the licensing status of the licensee.
(b)    Each licensee shall conspicuously display the following information on the licensee’s website, any software application accessible to the public and used to engage in business as a mortgage lender, and profile page within each social media platform the licensee uses:
(1)    The licensee’s unique identifier; and
(2)    A link to the NMLS Consumer Access website.
(c)    A licensee is not required to post the information required in subsection (a) of this section if the licensee does not regularly grant access to the licensed location to members of the general public.
2023 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.
2023 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.
2023 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 through NMLS in accordance with the process that the Commissioner requires.
(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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 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.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 6 - Mortgage Loan Originators › Section 11-602 - General Consideration

(a)    (1)    The licensing provisions of this subtitle do not apply to independent contractors.
(2)    Independent contractors are subject to the licensing provisions of Subtitle 5 of this title unless exempt from licensing under that subtitle.
(b)    Unless exempted from this subtitle under subsection (d) of this section, an individual may not engage in the business of a mortgage loan originator unless the individual holds a valid license issued under this subtitle.
(c)    Each licensee shall obtain and maintain a valid unique identifier issued by the Nationwide Mortgage Licensing System and Registry:
(1)    On obtaining an initial or renewal license on or after July 1, 2009; or
(2)    If the Commissioner has not joined the Nationwide Mortgage Licensing System and Registry as of July 1, 2009, on or after the date that the Commissioner joins, as instructed by the Commissioner by notice to the licensee.
(d)    The following individuals are exempt from this subtitle:
(1)    A registered mortgage loan originator, when acting for an entity described in § 11–601(w) of this subtitle;
(2)    An individual who offers or negotiates the terms of a mortgage loan with or on behalf of an immediate family member of the individual;
(3)    An individual who offers or negotiates the terms of a mortgage loan secured by a dwelling that served as the individual’s residence;
(4)    A licensed attorney who negotiates the terms of a mortgage loan on behalf of a client as an ancillary matter to the attorney’s representation of the client, unless the attorney is compensated by a mortgage lender, a mortgage broker, or a mortgage loan originator, or by an agent of a mortgage lender, mortgage broker, or mortgage loan originator; and
(5)    Subject to subsection (e) of this section, an individual loan servicer.
(e)    The exemption under subsection (d)(5) of this section is subject to modification by regulations that are adopted by the Commissioner and consistent with any applicable written interpretations of the federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008 by the United States Department of Housing and Urban Development presented through commentaries, guidelines, rules, regulations, or interpretive letters.
(f)    The Commissioner may adopt regulations to carry out this subtitle.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 6 - Mortgage Loan Originators › Section 11-605 - Qualifications for License

(a)    The Commissioner may not issue a mortgage loan originator license unless the Commissioner makes, at a minimum, the following findings:
(1)    The applicant has never had a mortgage loan originator license revoked in any governmental jurisdiction;
(2)    The applicant has not been convicted of, or pled guilty or nolo contendere to, a felony in a domestic, foreign, or military court:
(i)    During the 7–year period immediately preceding the date of the application for licensing; or
(ii)    At any time preceding the date of application, if the felony involved an act of fraud, dishonesty, a breach of trust, or money laundering;
(3)    The applicant has demonstrated financial responsibility, character, and general fitness sufficient to command the confidence of the community and to warrant a determination that the mortgage loan originator will operate honestly, fairly, and efficiently;
(4)    The applicant has completed the prelicensing education requirement under § 11–606 of this subtitle and any prelicensing education requirements established by the Commissioner by regulation;
(5)    The applicant has passed a test that meets the requirements established under § 11–606.1 of this subtitle and any prelicensing testing requirements established by the Commissioner by regulation; and
(6)    The applicant has met the surety bond requirement under § 11–619 of this subtitle.
(b)    A conviction for which a pardon has been granted is not a conviction for purposes of subsection (a)(2) of this section.
(c)    A determination that an individual does not meet the requirements for financial responsibility under subsection (a)(3) of this section may not be based solely on:
(1)    Debts arising from medical expenses, including judgments;
(2)    Except for delinquent child support payments, debts, including judgments, arising from divorce proceedings or divorce settlements;
(3)    Foreclosures on the applicant’s principal residence;
(4)    The applicant’s credit score as reported by any consumer reporting agency, as defined in 15 U.S.C. § 1681a; or
(5)    The applicant’s involvement in a bankruptcy proceeding under Title 11 of the United States Code.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 6 - Mortgage Loan Originators › Section 11-606 - Prelicensing Education Courses

(a)    To qualify for an initial license, an applicant shall complete at least 20 hours of prelicensing education that shall include:
(1)    3 hours of instruction on federal law and regulations relating to mortgage origination;
(2)    3 hours of instruction on ethics, including instruction on fraud, consumer protection, and fair lending issues; and
(3)    2 hours of training related to lending standards and loan terms for nontraditional mortgage products.
(b)    (1)    All prelicensing education courses shall be reviewed and approved by the Nationwide Mortgage Licensing System and Registry.
(2)    Review and approval of a prelicensing education course shall include review and approval of the course provider by the Nationwide Mortgage Licensing System and Registry.
(c)    Prelicensing education may be offered in a classroom, online, or by any other means approved by the Nationwide Mortgage Licensing System and Registry.
(d)    An applicant’s successful completion in another state of the prelicensing education requirements approved by the Nationwide Mortgage Licensing System and Registry, except prelicensing education requirements specific to that other state, shall be accepted by the Commissioner as credit toward completion of prelicensing education requirements in this State.
(e)    This section does not preclude any prelicensing education course, as approved by the Nationwide Mortgage Licensing System and Registry, that is provided by the employer of the applicant or an entity that is affiliated with the applicant by an agency contract, or any subsidiary or affiliate of the employer or entity.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 6 - Mortgage Loan Originators › Section 11-606.1 - Written Tests

(a)    To qualify for an initial license, an applicant shall pass a qualified written test developed by the Nationwide Mortgage Licensing System and Registry and administered by a test provider approved by the Nationwide Mortgage Licensing System and Registry.
(b)    A written test may not be treated as a qualified written test for purposes of subsection (a) of this section unless the test adequately measures the applicant’s knowledge and comprehension in appropriate subject areas, including:
(1)    Ethics;
(2)    Federal law and regulations relating to mortgage origination;
(3)    State law and regulations relating to mortgage origination; and
(4)    Federal and State law and regulations relating to fraud, consumer protection, the nontraditional mortgage product marketplace, and fair lending issues.
(c)    To pass a qualified written test, an applicant must receive a test score of at least 75 percent.
(d)    An applicant may take a test three times, provided that each subsequent test occurs at least 30 days after the preceding test.
(e)    After failing three tests, an applicant shall wait at least 6 months before taking the test again.
(f)    (1)    A licensee who fails to renew and maintain a valid license for a period of 5 years or longer shall retake the test and achieve a passing grade as set forth in subsection (c) of this section before obtaining a new license.
(2)    Calculation of the time period during which an individual is unlicensed under paragraph (1) of this subsection shall exclude any time during which the individual is a registered mortgage loan originator.
(g)    This section does not prohibit a test provider approved by the Nationwide Mortgage Licensing System and Registry from providing a test at the location of the employer of the applicant or any subsidiary or affiliate of the employer of the applicant, or any entity with which the applicant holds an exclusive arrangement to conduct the business of a mortgage loan originator.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 6 - Mortgage Loan Originators › Section 11-607 - Investigation and Approval

(a)    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.
(b)    The Commissioner shall issue a license to an applicant who meets the requirements of § 11–605 of this subtitle.
(c)    If the Commissioner notifies an applicant that the application is incomplete:
(1)    The Commissioner’s notice shall itemize the steps which the applicant must take to complete the application; and
(2)    The application may not be approved until after the applicant supplies or completes all items and steps identified in the Commissioner’s notice.
(d)    The Commissioner may deny an application:
(1)    If the applicant fails to qualify for a license under this subtitle; or
(2)    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.
(e)    The Commissioner shall approve or deny an application within 60 days after the Commissioner receives a completed application.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 6 - Mortgage Loan Originators › Section 11-608 - Denial of Application

(a)    If the Commissioner denies an application, the Commissioner:
(1)    Within 10 days, shall notify the applicant, in writing, of the denial; and
(2)    Shall keep the license fee and the investigation fee.
(b)    Within 30 days after the Commissioner denies an application, the Commissioner shall:
(1)    Issue a written decision containing the specific factual findings and conclusions of law on which the denial was based;
(2)    Send a copy of the written decision by certified mail 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)    An applicant who seeks a hearing on an application denial shall file with the Commissioner’s office a written request for a hearing within 45 days after receipt of the Commissioner’s written decision and notice of the applicant’s right to a hearing.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 6 - Mortgage Loan Originators › Section 11-609 - Term, Expiration, and Renewal of License

(a)    Subject to any regulations the Commissioner adopts in connection with the transition to NMLS, an initial license term shall:
(1)    Begin on the first day the license is issued; and
(2)    Expire on December 31 of the year:
(i)    In which the license is issued, if the license is issued before November 1; or
(ii)    Succeeding the year in which the license is issued, if the license is issued on or after November 1.
(b)    On or after November 1 of the year in which the license expires, the license may be renewed for an additional 1–year term, if the licensee:
(1)    Subject to subsections (d) and (e) of this section, meets the minimum standards for the issuance of a license and otherwise is entitled to be licensed;
(2)    Pays to the Commissioner a 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 under this subtitle or set by regulations adopted by the Commissioner.
(c)    In addition to the license renewal fee required under subsection (b)(2) of this section, an applicant for a license renewal shall pay to NMLS any fees that NMLS imposes in connection with the renewal application.
(d)    Notwithstanding anything to the contrary in this section or § 11–605 of this subtitle, an applicant for renewal of a license who is duly licensed under this subtitle on July 1, 2009:
(1)    May comply with the following requirements for renewal of the license on or before December 31, 2010:
(i)    The fingerprinting and criminal history report requirement under § 11–604 of this subtitle;
(ii)    The surety bond coverage requirement under § 11–619 of this subtitle; and
(iii)    The prelicensing testing requirement under § 11–606.1 of this subtitle; and
(2)    Is deemed to have satisfied the prelicensing educational course requirement under § 11–606 of this subtitle if the applicant completed 20 hours of continuing education courses approved by the Commissioner within 5 years prior to the expiration date of the applicant’s current license.
(e)    (1)    A licensee may surrender a license through NMLS in accordance with the process that the Commissioner requires.
(2)    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.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 6 - Mortgage Loan Originators › Section 11-612 - Continuing Education

(a)    Before applying for renewal of a license, a licensee shall complete at least 8 hours of continuing education, which shall include:
(1)    3 hours of instruction on federal law and regulations relating to mortgage origination;
(2)    2 hours of instruction on ethics, including instruction on fraud, consumer protection, and fair lending issues; and
(3)    2 hours of training related to lending standards for the nontraditional mortgage product marketplace.
(b)    (1)    All continuing education courses shall be reviewed and approved by the Nationwide Mortgage Licensing System and Registry.
(2)    Review and approval of a continuing education course shall include review and approval of the course provider by the Nationwide Mortgage Licensing System and Registry.
(c)    Continuing education may be offered in a classroom, online, or by any other means approved by the Nationwide Mortgage Licensing System and Registry.
(d)    A licensee:
(1)    Shall receive credit for a continuing education course only in the year in which the course is taken; and
(2)    May not take the same continuing education course to meet the annual requirement for continuing education.
(e)    A licensee who teaches an approved continuing education course may receive credit for the licensee’s own annual continuing education requirement at the rate of 2 hours of credit for every 1 hour taught.
(f)    A licensee’s successful completion in another state of the continuing education requirements approved by the Nationwide Mortgage Licensing System and Registry, except continuing education requirements specific to that other state, shall be accepted by the Commissioner as credit towards completion of continuing education requirements in this State.
(g)    This section does not preclude any continuing education course, as approved by the Nationwide Mortgage Licensing System and Registry, that is provided by the employer of the mortgage loan originator or an entity that is affiliated with the mortgage loan originator by an agency contract, or any subsidiary or affiliate of the employer or entity.
(h)    The Commissioner may adopt regulations to implement this section.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 6 - Mortgage Loan Originators › Section 11-612.1 - Regulations -- Fees

(a)    The Commissioner shall set by regulation the fees provided for in this subtitle.
(b)    The fees established by the Commissioner under this section shall be reasonable and set in a manner that will produce funds sufficient to cover the actual direct and indirect costs of regulating licensees in accordance with the provisions of this subtitle.
(c)    The Commissioner shall publish the fee schedule set by the Commissioner.
2023 Maryland Statutes › Financial Institutions › Title 11 - Consumer Credit › Subtitle 6 - Mortgage Loan Originators › Section 11-612.2 - Expedited Licensing of Service Member, Veteran, or Military Spouse

(a)    (1)    In this section the following words have the meanings indicated.
(2)    (i)    “Military spouse” means the spouse of a service member or veteran.
(ii)    “Military spouse” includes a surviving spouse of:
1.    A veteran; or
2.    A service member who died within 1 year before the date on which the license application, renewal, or change of status is submitted.
(3)    “Service member” means an individual who is an active duty member of:
(i)    The armed forces of the United States;
(ii)    A reserve component of the armed forces of the United States; or
(iii)    The National Guard of any state.
(4)    (i)    “Veteran” means a former service member who was discharged from active duty under circumstances other than dishonorable within 1 year before the date on which the license application, renewal, or change of status is submitted.
(ii)    “Veteran” does not include an individual who has completed active duty and has been discharged for more than 1 year before the license application, renewal, or change of status is submitted.
(b)    To expedite the renewal or change of status of a license for a service member, veteran, or military spouse, the Commissioner may waive or suspend any licensing requirements to the extent that the waiver or suspension does not result in the failure to meet the minimum licensing standards set forth in 12 U.S.C. Chapter 51 and the regulations adopted under it.
(c)    To expedite the issuance of a license to a service member, veteran, or military spouse who holds a valid mortgage loan originator license in another state, the Commissioner may waive or suspend any licensing requirements to the extent that the waiver or suspension does not result in the failure to meet the minimum licensing standards set forth in 12 U.S.C. Chapter 51 and the regulations adopted under it.
(d)    The Commissioner shall publish prominently on the Commissioner’s website, or have published on a third–party website used for licensing mortgage loan originators in the State, the expedited processes for the issuance, renewal, or change of status of a license under this section.
(e)    The Commissioner may adopt regulations to carry out this section.