If you intend to conduct mortgage lending, brokering and/or servicing in the State of Maryland, unless exempt, you must apply for and obtain a Mortgage Lender license. The Commissioner of Financial Regulation uses the Nationwide Mortgage Licensing System (NMLS) to manage Mortgage Lender licensees and applicants.

Maryland is transitioning to the NMLS for a period that will conclude December 31, 2010. Maryland previously issued two year licenses through December 31, 2008 and this extended transition is designed to accommodate current licensees who must transition on or before the expiration of their next expiration. For more detail, see the Maryland Transition Plan on NMLS.  In addition, a Powerpoint Maryland Transition Briefing (PowerPoint document, 1.3MB, download PowerPoint viewer for free) and one page Desktop Summaries (PowerPoint document, 103KB, download PowerPoint viewer for free) are available for your assistance.

• New Applicants - ALL new license applicants MUST initiate applications through the NMLS. New licenses will be approved through the NMLS beginning July 1, 2009. Proceed to NMLS HERE.
   
• Renewing Licensees - Current licensees must transition to the NMLS prior to expiration of their current license. As part of the transition, your license will be renewed from expiration through December 31, 2010.

•  If your license expires prior to July 1, 2009, you must use the Maryland renewal website application only - PROCEED TO MD WEBSITE HERE.
• If your license expires on or after July 1, 2009, Proceed to NMLS HERE to transition your license to NMLS and renew the license through December 31, 2010. You will also need to pay your Maryland license fee through the Maryland website. This is required to as Maryland will pro-rate your renewal fee for the period from expiration through December 31, 2010. Proceed to COMPLETE PAYMENT APPLICATION.

Featured Information

• Pre-Licensing Education Requirements
• Continuing Education Requirements
• Information for Course Providers
• Emergency Mortgage Lender and Mortgage Loan Originator Regulations
• SAFE Act and Maryland NMLS Transition
• Advisory: Meeting the Minimum Net Worth Requirements
• Important Mortgage Licensee Information
• Information for Foreclosure Assistance
• Foreclosure Process Reform Bill - SB 216/HB 365
• New Foreclosure Rules Advisory
• Maryland Mortgage Servicer Reporting Form
• Servicer Reporting Regulation Frequently Asked Questions/Glossary of Terms
• Guidance on Nontraditional Mortgage Product Risks
• Statement on Subprime Mortgage Lending

Applications and Forms

Transition a Maryland Mortgage Lender License to NMLS (have your Maryland license registration number available) (Login to NMLS)
Amendments (Change Control, Change of Address) (Login to NMLS)
Apply for a Maryland Mortgage Lender License - Forms MU1 and/or MU3 (Login to NMLS)
Fingerprint Cards Request Form
Surety Bond Form (Word document, 35KB, download Word viewer for free)
Secondary Mortgage Commercial Loan Disclosure (Word document, 39KB, download Word viewer for free)

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 Code Annotated, Financial Institutions § 11-501 et seq. (Maryland Mortgage Lender Law)
Maryland Code Annotated, Financial Institutions § 11-601 et seq. (Maryland Mortgage Originator Law)
COMAR 09.03.06 Mortgage Lenders
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

Resources

Maryland Transition Plan
NMLS Getting Started Guide
Work Flows & Quick Guides
NMLS Tutorials
Navigation Guides
Upcoming Training & Workshops
NMLS News & System Alerts