2013 NMLS STREAMLINED RENEWAL PROCESS
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. You must satisfy all renewal requirements before you or your company will be able to submit a renewal request.
Actions you can take now:
1. Confirm Continuing Education (CE) requirements have been met.
a. Failure to complete required CE (including posting to your NMLS record) will prevent submission of your renewal request.
b. 8 hours of NMLS approved continuing education (including 1 hour of instruction on Maryland mortgage-related law).
c. 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 or you may be prevented from submitting for renewal on time.
d. Review the CE requirements on the 2012 State-Specific NMLS Required Education Chart on the NMLS Resource Center.
2. Update your record prior to the start of the NMLS Streamlined Renewal Process.
a. Log into NMLS, and confirm that your NMLS record is up-to-date.
b. Failure to update your record will prevent submission of your renewal request.
3. Review the tools and resources and requirements for renewal in the Renewals Overview section of the NMLS Resource Center.
4. Log into NMLS or use the self-help features to confirm your user name and password are up to date to avoid log in issues during renewal.
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.
For specific questions pertaining to Maryland's MLO's and AIP-MLO's renewal, you may contact Keisha Whitehall Wolfe, Director of Licensing at 410-230-6362 or via email at email@example.com.
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
If you would like to subscribe to our newsletter, please enter your e-mail below.