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Mortgage Lenders, Brokers and/or Servicers - Financial Regulation

Mortgage Lender is defined as any person who is a mortgage broker, makes a mortgage loan to any person or is a mortgage servicer.

  • Mortgage broker is a person who for a fee, or other valuable consideration, whether received directly or indirectly, aids or assist a borrower in obtaining a mortgage loan and is not named as a lender in the agreement, note, deed of trust, or other evidence of the indebtedness.
     
  • Mortgage servicer is a person who engages in whole or in part in the business of servicing (collecting) mortgage loans for others or collects or otherwise receives payments on mortgage loans directly from borrowers for distribution to any other person.
     
  • Exempt Entity is available for any company that employs state-licensed mortgage loan originators but is not required to be licensed under the laws of Maryland. This registration is optional and is intended for companies that wish to manage their mortgage loan originator in NMLS.

Frequently Asked Questions (FAQs)

  • New Applicants - ALL new license applicants MUST initiate applications through the NMLS. Proceed to NMLS.
    Please note new license requests must be submitted through the NMLS, but supporting documentation must be sent to the Maryland Office of the Commissioner of Financial Regulation.
     
  • Renewing Licensees - You must renew your license on the NMLS during the renewal period – November 1st through December 31st. Proceed to NMLS. Please note renewal requests must be submitted through the NMLS, but supporting documentation must be sent to the Maryland Office of the Commissioner of Financial Regulation.
     



Featured Information

Required: Information on Business Activities
Continuing Education Requirements
Information for Course Providers
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Advisory: Guidelines for Compliance with State and Federal Requirements to Provide Housing Counseling Information for Borrowers - September 28, 2015


Laws and Rules

Applicants and licensees are expected to be knowledgeable about and in compliance with the Mortgage Lender Law, and any other applicable State or Federal statutes and regulations. Maryland rules and regulations can be found by accessing the Code of Maryland Unannotated and Rules (Public Access) and Code of Maryland Regulations (COMAR).

Note: To access the Maryland Code Annotated, from the link below, select the "Maryland Code" folder, then select the individual folders or links provided to delve into the volumes, chapters, and/or sections of the publication.

Maryland Code Annotated, Financial Institutions § 11-601 et seq. (Maryland Mortgage Originator Law)
Maryland Code Annotated, Financial Institutions § 11-501 et seq. (Maryland Mortgage Lender Law)
COMAR 09.03.09 Mortgage Loan Originators
COMAR 09.03.10 Credit and Other Regulation
COMAR 09.03.11 Recordation of Security Instruments for Residential Property
COMAR 09.03.12 Foreclosure Procedures for Residential Property