State offices and all DLLR physical locations will be closed to the public December 24 & December 25, 2014. However, Unemployment Insurance telephone and Web operations WILL be available on Wednesday, December 24.

Office of the Commissioner of Financial Regulation

 

Application and Licensing Fees - Financial Regulation Electronic Licensing

 

Affiliated Insurance Producers - Mortgage Loan Originators

  • Initial License/ Form MU4 - (Investigation fee NOT included): $700.00
  • Investigation Fee (non-refundable/ not applicable to renewals): $100.00
  • License Renewal: $700.00
  • NMLS Processing Fee: $30
  • Amendments
    • Change of Employer: $75
    • Change of Name: $75
    • Request for placement on non-active status: $0
    • Request for return to active status (without change of employer): $0
    • Request for return to active status (with change of employer): $75

Banks & Credit Unions

  • Affiliate: $750
  • Articles of Amendment: $20
  • Bank Holding Company: $1,500
  • Branch: $600
  • Conversions - To State-Chartered: $7,000
  • Credit Union Branch: $100
  • Foreign Bank Representative Office Permit: $500
  • Mergers/Acquisitions - Among 2 Banks: $3,000
  • Mergers/Acquisitions - Among 3 or more Banks: $5,000
  • New Bank Charters: $15,000
  • New Credit Union Charters: $500
  • New Non-Depository Trust Company: $15,000
     
    Miscellaneous Fees
  • Certified Copies of Documents: $50
  • Certificate of Valid Charter: Requested by Bank or on behalf of: $25
  • Certificate of Valid Charter: Requested by a person other than a bank: $50

Check Cashers

Collection Agencies

  • Initial License - Original Office: $700.00*
  • Initial License - Branch Office: $700.00*
  • License Renewal: $700.00*
     
    * Applicants are currently charged a prorated fee of the $700 to ensure all licenses will expire on 12/31/2015. Going forward, all licenses will expire at the end of the calendar year.

    You are required to obtain a surety bond (Word document, 38KB, download Word viewer for free) or valid continuation certificate that runs to the Commissioner of Financial Regulation in the amount of $5,000.00 in favor of the State of Maryland. The term of the bond must be continuous until cancelled.

Consumer Lending

Credit Services Businesses

Debt Management Companies

 
Debt Management Company’s Annual Gross Revenue Initial License Fee Investigation Fee License Renewal Fee
Not greater than $3,000,000 $1,000 $1000 (non-refundable) $1,000
> $3,000,000, but not more than $6,000,000 $2,000 $1000 (non-refundable) $2,000
> $6,000,000, but not more than $15,000,000 $4,000 $1000 (non-refundable) $4,000
> $15,000,000, but not more than $30,000,000 $6,000 $1000 (non-refundable) $6,000
> $30,000,000 $8,000 $1000 (non-refundable) $8,000
 

*Note: There is a fee of $100 for each additional MD Location.

You are required to obtain a surety bond (Word document, 38KB, download Word viewer for free) that runs to the Commissioner of Financial Regulation. The amount of the surety device shall be based on the annual volume of Maryland transactions.

 
Annual Volume of Maryland Transactions Loss Range Required Bond Amount
     
Less than $240,000 $0 to $10,000 $10,000
$240,001 to $600,000 $10,001 to $25,000 $25,000
$600,001 to $1.2 million $25,001 to $50,000 $50,000
$1.2 million to $1.8 million $50,001 to $75,000 $75,000
$1.8 million to $2.4 million $75,001 to $100,000 $100,000
$2.4 million to $4.8 million $100,001 to $200,000 $200,000
$4.8 million to $9.6 million $200,001 to $400,000 $400,000
$9.6 million to $14.4 million $400,001 to $600,000 $600,000
$14.4 million to $19.2 million $600,001 to $800,000 $800,000
More than $19.2 million More than $800,000 $1,000,000
 

Debt Settlement Services Providers

Installment Lenders

Money Transmitters

Using NMLS, a nationwide licensing system, you may pay either by electronic check or by credit card.

  • Initial License/Form MU1 - Principal Office: $2,000.00
  • Investigation Fee: $1,000.00
  • License Renewal: $2,000.00
  • NMLS Processing Fee (Company): $100
  • NMLS Processing Fee (Branch): $20
  • Amendments
    • Change of Address: $0
    • Change of Name: $0
    • Change of Control: $0

You are required to obtain a surety bond (see Money Transmitter New Application Checklist, page 4 [PDF document, download Adobe Acrobat for free]) that runs to the Commissioner of Financial Regulation or file evidence of a deposit in lieu of a surety bond/money transmitter custodial and pledge agreement (see Money Transmitter New Application Checklist, page 4 [PDF document, download Adobe Acrobat for free]) to be held by the Commissioner. The amount of the surety device shall be $150,000 - $1,000,000, as determined by the Commissioner.

Mortgage Lenders/Brokers/Services
Using NMLS, a nationwide licensing system, you may pay either by electronic check or by credit card.

  • Initial License/ Form MU1 - Principal Office or Individual (Investigation fee NOT included): $1,000.00
  • Initial License/ Form MU3 - Branch Office (Investigation fee NOT included): $1,000.00
  • Investigation Fee (non-refundable/ not applicable to renewals): $100.00
  • License Renewal: $1,000.00
  • NMLS Processing Fee (Company): $100
  • NMLS Processing Fee (Branch): $20
  • Amendments
    • Change of Address: $0
    • Change of Name: $0
    • Change of Control: $0
       
      You are required to obtain a surety bond (Word document, 38KB, download Word viewer for free) that runs to the Commissioner of Financial Regulation for the benefit of mortgage loan borrowers. The bond amount will depend upon the aggregate lending activity reflected in your application's Sworn Activity Statement. The term of the bond must be concurrent with the licensing period.
 

Loan Activity

Bond Amount

   
$3,000,000.00 or less $50,000.00
$3,000,000.01 - $10,000,000.00 $100,000.00
$10,000,000.01 or more $150,000.00
Five or more applications at the same time $750,000.00
 

Mortgage Loan Originators
Using NMLS, a nationwide licensing system, you may pay either by electronic check or by credit card.

  • Initial License/ Form MU4 - (Investigation fee NOT included): $225.00
  • Investigation Fee (non-refundable/ not applicable to renewals): $100.00
  • License Renewal: $225.00
  • NMLS Processing Fee: $30
  • Amendments
    • Change of Employer - $75
    • Change of Name - $75
    • Request for placement on non-active status - $0
    • Request for return to active status (without change of employer) - $0
    • Request for return to active status (with change of employer) - $75

Sales Finance Companies
The fees below are for a 2-year license. You may pay either by check or by credit card. If you choose the credit card option, the license fees will be reflected on your credit card statement under "MD Financial Regulation."

 
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