How to get Maryland Mortgage Loan Originator Prelicensing Education PE and MD Continuing Education CE Requirements Met
1. Get your NMLS Number
If you have not done so already, it takes 1 -2 minutes to get your NMLS number. https://www.statemortgageregistry.com/Public/Login.aspx Click "Request an account" Click "Individual" We try to make all of these things easier, what questions may we answer? Use the chat feature on the bottom right corner of every web page to get answers now!
2. Get and complete your MD 20 Hour Prelicense Education PE Course Bundle
3. Pass the NMLS Nation Component Exam with Uniform State Test using our included test preparation program and add other states by getting and completing state PE courses
4. Apply for your Maryland MLO License through the NMLS system prompt you at this point for your next steps after opening your MD Mortgage Loan Originator application.
Questions about qualifications on any part of the process? Use the chat feature on the bottom right of this webpage or click here and get answers fast!
Maryland MD Prelicensing Education PE 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 lawwhich may be satisfied by either taking a MD comprehensive course or a state-specific elective course.
Prior to submission of the application, complete 20 hours of NMLS-approved pre-licensure education (PE) courses which shall include 3 hours of Maryland mortgage-related law and 2 hours of Maryland finder’s fee law – NMLS must indicate your compliance with this requirement. Get our Maryland 5 Hour Course that includes the required 3 hours of Maryland mortgage related law and the 2 hours of MD Finder's fee law, think of mortgage broker fee and a finder's fee as synonymous.
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, get Maryland 8 hour CE course that includes the Federal core requirements and 1 hour of MD law (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 2 hours of ethics (which shall include fraud, consumer protection, and fair lending issues), and 2 hours of non-traditional mortgage lending, must include 3 hours of Federal law, 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 for 2023 MLO license renewals? | |||
| If I completed SAFE Act PE in 2009, 2010, 2011, 2012, 2013, 2014, or 2015, 2016, 2017, 2018, 2019, 2020, 2021 | and I was licensed in 2009, 2010, 2011, 2012, 2013, 2014, 2015, or 2016, 2017, 2018 2019, 2020, 2021 | am I required to complete CE in 2022 | YES |
| If I completed SAFE Act PE in 2022 | and I was approved for an initial license in 2022 | am I required to complete CE in 2022 | No |
Deadline
The deadline to complete CE is December 31, 2022. 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.
Maryland Mortgage Regulator Contact Information
Agency Contact Information Contact Maryland Commissioner of Financial Regulation licensing staff by email to CFRLicensing@dllr.state.md.us for additional assistance.
For U.S. Postal Service and Overnight Delivery:
Maryland Commissioner of Financial Regulation
Attn: Licensing Unit
1100 N. Eutaw Street, Suite 611
Baltimore, Maryland 21201
Telephone 410-230-6100 or toll-free 1-888-784-0136
Need help with MD DLLR schedule a meeting here: Meetings Available by Appointment Only Appointments are available for virtual meetings with Financial Regulation staff through a video-conference kiosk at our offices in Baltimore City. To quickly and easily schedule an appointment online, please visit our online scheduling system. See the MD DLLR Contact Us page for more information.
How much does a MD MLO license cost? The cost of a Maryland Mortgag eLoan Originator License is $307.25 itemized as follows:
NMLS Initial Processing Fee: $30
MD License/Registration Fee: $225.00
[Enter supplemental text]
MD Application Fee: $1.00
Investigation fee (Non-Refundable)
Credit Report: $15
FBI Criminal Background Check: $36.25
Maryland MLO NMLS Checklist describes items needed to get a MD Originator License
MD Loan Officer Licensing Requirements https://nationwidelicensingsystem.org/slr/PublishedStateDocuments/MD-MLO-New-App-Checklist.pdf
Who has to be licensed in MD as an MLO or MD Processor?
Who Is Required to Have This MD MLO License?
An individual who for compensation or gain, or in the expectation of compensation or gain: Takes a loan application; or Offers or negotiates terms of a mortgage loan. Maryland Commissioner of Financial Regulation does issue paper licenses for this license type.
Maryland notes
Unauthorized Representation as a Bank
From Office of the Commissioner of Financial Regulation
Michelle Denoncourt, Assistant Commissioner
Maryland law prohibits unauthorized representation as a bank to protect Maryland consumers and banks that are authorized to do business in Maryland [FI 5 806 representation to the public]•
Companies offering financial services that are not banks or trust companies may not use the word “bank” or “trust company” in their name.
A bank or trust company that seeks to use “bank” or “trust company” in their name must request OCFR’s determination that it is a permissible use.