Pre-Licensure Education Requirements
New state-licensed MLOs are required to complete 20 hours of NMLS approved education. This education must include 3 hours of Federal law, 3 hours of ethics (which shall include fraud, consumer protection, and fair lending issues), 2 hours of non-traditional mortgage lending, plus 7 hours of undefined education (referred to as electives) + 5 hours of MD law. Number of hours is 3/3/2/7/+ 5hrs of MD law = 20
Maryland has a requirement for 5 hours of instruction on state-specific law which may be satisfied by either taking a MD comprehensive course or a state-specific elective course.
Continuing Education Requirements
Every MD Mortgage Lender licensee (in any approved status) is required to complete at least 8 hours of NMLS approved education annually beginning the first year of licensure (the chart below is NOT applicable to the Mortgage Lender licensee). The individual listed as the Qualifying Individual (on the MU1) must satisfy the CE requirement for the MU1 location and the individual listed as the Branch Manager (on the MU3) must satisfy the CE requirements for the MU3 location. Annual CE education must include 3 hours of Federal law, 2 hours of ethics (which shall include fraud, consumer protection, and fair lending issues), and 2 hours of non-traditional mortgage lending, plus one (1) additional hour of MD-specific education (referred to as an elective). Number of hours is 3/2/2/+ 1hr of MD law = 8
MLOs are advised that to comply with the SAFE Act’s “successive years” rule, they may not take the same CE course two years in a row. MLO’s are advised not to retake pre-licensure education (PE) unless directed to by a State Regulator. PE education does not count towards meeting annual CE requirements.
|Am I required to take Continuing Education this year?|
|If I completed SAFE Act PE in 2009,|
2010, 2011, 2012, 2013, 2014, or 2015
|and I was licensed in 2009, 2010, 2011, 2012, 2013, 2014, 2015, or 2016||am I required to complete CE in 2016||YES|
|If I completed SAFE Act PE in 2016||and I was approved for an initial license in 2016||am I required to complete CE in 2016||No|
The deadline to complete CE is December 31, 2016. However, both Mortgage Lender Licensees and MLOs in Maryland are prohibited from submitting an application to renew their license if they have not completed CE. Since it may take as long as seven (7) days for a course provider to report a course completion into NMLS, licensees are strongly encouraged not to wait until the last minute to try to complete CE or they may be prevented from submitting for renewal on time.
This state is a UST state and has adopted the Uniform state test added to the National test. If you want to be licensed in this state and have not taken the newest National test with UST included, you will need to take the National Component NMLS exam with the Uniform State Test (UST). Click here to see test preparation options.
If you don’t see any PE courses scheduled please call our office at 317-201-7612 and speak with one of our Mortgage Education Specialists about newly scheduled classes and private events.