The Maryland mortgage lenders and mortgage loan originators annual renewal period for 2011 has now ended. However, Maryland will continue to allow renewal requests until January 30, 2011 for mortgage loan originators who have completed the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (SAFE) requirements by December 31, 2010 and all mortgage lender licensees.
Mortgage loan originators who have NOT satisfied the SAFE requirements (20 hours of the Nationwide Mortgage Licensing System and Registry (NMLS)-approved SAFE education, passage of both the National and Maryland specific tests, completion of Federal criminal background check via the NMLS, and submission of a credit report request via the NMLS) CANNOT renew that license and must submit a new license request for approval to conduct business in 2011. See the new license checklist for more information.
Reinstatement requests are submitted just like renewal requests. Please go to the Nationwide Mortgage Licensing System's Resource Center - Streamlined Annual Renewals page to start the process.
Below are some guidelines to keep in mind:
- Continuing Education (CE) Requirements: Maryland is not requiring CE for mortgage loan originators in 2010 in order to renew for 2011. However, the covered employees (managers of each branch) of the mortgage lender licensee must complete 8 hours of CE in 2010 in order for the mortgage lender licensee to renew for 2011.
- Additional Requirements: Mortgage Loan Originators - must submit a credit report request via the NMLS.
|If you have any questions you may contact Keisha Whitehall Wolfe, Director of Licensing at 410-230-6362.|
Department of Labor, Licensing and Regulation, Office of the Commissioner of Financial Regulation, 500 N. Calvert Street, Suite 402 - Baltimore, Maryland 21202-3651 - (410) 230-6155If you would like to subscribe to our newsletter, please enter your e-mail below.