Issue XLI   November 9, 2012  
In This Issue
Actions You Can Take Now For Renewal
Quick Links
Maryland Mortgage Lenders (MLs) Renewal Reminders
Figure check list 



The 2013 NMLS Streamlined Renewal Process begins November 1st and ends December 31st. A Renewal Handbook is located on the NMLS Resource Center to help guide you through the process.  All records in NMLS should be reviewed and confirmed as up to date prior to the beginning of the renewal period.  


Actions you can take now:


  1. Annual Financial Statements - outstanding financial statement requirements will prevent a company from submitting a renewal request.
  2. Mortgage Call Report - outstanding Mortgage Call Report (MCR) filings will prevent a company from submitting a renewal request.
  3. Confirm Continuing Education (CE) requirements have been met.
    1. Covered employees (individual listed as the Qualifying Individual (on the MU1) and the individual listed as the Branch Manager (on the MU3)) must complete 8 hours of NMLS approved continuing education (including 1 hour of instruction on Maryland mortgage-related law).
    2. CE requirements are annual and apply to the first renewal of a license.
    3. Failure to complete the CE requirements will prevent the approval of the renewal request and may cause the denial of the renewal request.
    4. Since it may take as long as seven (7) days for a course provider to report a course completion into NMLS, you are strongly encouraged not to wait until the last minute to try to complete CE.
  4. Update your record prior to the start of the NMLS Streamlined Renewal Process.
    1. Log into NMLS, and confirm that your NMLS record is up-to-date.
    2. Failure to update your record will prevent submission of your renewal request.
  5. Confirm licensee is in good standing with the State Department of Assessments and Taxation of Maryland.
  6. Review the tools and resources and requirements for renewal in the Renewals Overview section of the NMLS Resource Center.

Senate Bill 302 (SB302)* Terminates Certain Exemptions - Effective January 1, 2013


  • Affiliates and subsidiaries of federally chartered institutions are currently exempt from licensing under the Maryland Mortgage Lender Law.  However, effective January 1, 2013, affiliates and subsidiaries of federally chartered institutions will no longer be exempt from the Maryland Mortgage Lender Law and must be licensed as Maryland Mortgage Lenders to conduct Maryland mortgage lending business, unless another exemption applies.  


  • The Maryland Mortgage Lender Law currently has a de minimis exemption for a person who makes three or fewer mortgage loans per calendar year or a broker who makes no more than one mortgage loan per year.  However, effective January 1, 2013, the Maryland Mortgage Lender Law will no longer have a de minimis exemption and persons who conduct Maryland mortgage lending business must be licensed as Maryland Mortgage Lenders, unless another exemption applies.


See the State Licensing Requirements on the NMLS Resource Center for guidance regarding the submission of the Maryland Mortgage Lender License request.


*To view SB302, visit the Maryland General Assembly website, select "Prior Session Information", select 2012 Bills from the table, then enter "SB302" and submit.


More Information

For specific questions pertaining to Maryland's Mortgage Lender License renewal, you may contact Keisha Whitehall Wolfe, Director of Licensing at 410-230-6362 or via email at kwhitehallwolfe@dllr.state.md.us.

Department of Labor, Licensing and Regulation, Office of the Commissioner of Financial Regulation, 500 N. Calvert Street, Suite 402 - Baltimore, Maryland 21202-3651 - (410) 230-6155
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