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:
- 3 hours of Federal law and regulations;
- 2 hours of ethics that shall include instruction on fraud, consumer protection, and fair lending issues;
- 2 hours of training related to lending standards for the nontraditional mortgage product market; and
- 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:
For questions about course requirements, providers and approved courses, go to the NMLS Education Resource Page or call NMLS at 855-665-7123. For other inquiries specific to Maryland requirements, contact Juan Sempertegui, Director of Licensing at the Office of the Commissioner at 410-230-6102.