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

 

Mortgage Lender Continuing Education

 

Each "covered employee" (i.e., a manager of a location licensed by the Commissioner of Financial Regulation) must satisfy the continuing education requirements set forth below during each licensing period.

THE CONTINUING EDUCATION REQUIREMENTS FOR COVERED EMPLOYEES WHO ARE NOT LICENSED AS MORTGAGE LOAN ORIGINATORS, ARE THE SAME AS THE CONTINUING EDUCATION REQUIREMENTS FOR LICENSED MORTGAGE LOAN ORIGINATORS. These continuing education standards are prescribed by Md. Code Ann., Financial Institutions § 11-612 and the SAFE Mortgage Licensing Act and include the following on an annual basis:

  1. 3 hours of Federal law and regulations;
  2. 2 hours of ethics that shall include instruction on fraud, consumer protection, and fair lending issues;
  3. 2 hours of training related to lending standards for the nontraditional mortgage product market; and
  4. 1 hour of instruction on Maryland mortgage-related law.

APPROVED CONTINUING EDUCATION COURSES

Course approvals are provided through the NMLS (effective since January 1, 2010). The continuing education requirements and a list of approved courses can be found on the NMLS website:

NMLS APPROVED COURSES

For questions about course requirements, providers and approved courses, go to the NMLS Education Resource Page or call NMLS at 240-386-4444. For other inquiries specific to Maryland requirements, contact Juan Sempertegui, Director of Licensing at the Office of the Commissioner at 410-230-6102.

 
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