Affiliated Insurance Producers - Mortgage Loan Originators
- Initial License/ Form MU4 - (Investigation fee NOT included): $700.00
- Investigation Fee (non-refundable/ not applicable to renewals): $1.00
- License
Renewal: $700.00
- NMLS Processing Fee: $30
- Amendments
- Change of Employer: $0
- Change of Name: $0
- Request for placement on non-active status: $0
- Request for return to active status (without change of employer):
$0
- Request for return to active status (with change of employer):
$0
Banks & Credit Unions
- Affiliate: $750
- Articles of Amendment: $20
- Bank Holding Company: $1,500
- Branch: $600
- Conversions - To State-Chartered: $7,000
- Credit Union Branch: $100
- Foreign Bank Representative Office Permit: $500
- Mergers/Acquisitions - Among 2 Banks: $3,000
- Mergers/Acquisitions - Among 3 or more Banks: $5,000
- New Bank Charters: $15,000
- New Credit Union Charters: $500
- New Non-Depository Trust Company: $15,000
Miscellaneous Fees
- Certified Copies of Documents: $50
- Certificate of Valid Charter: Requested by Bank or on behalf of: $25
- Certificate of Valid Charter: Requested by a person other than a bank: $50
Check Cashers
- Initial License - Original Office (Word document,
download Word viewer for free) (Investigation Fee NOT included): $1,000
- Initial License - Branch Office (Word document)
download Word viewer for free) (Investigation Fee NOT included): $1,000
- Renewal Application (Word document,
download Word viewer for free): $1,000
- Investigation Fee (non-refundable): $100
- License Renewal: $1,000
Collection Agencies
- Initial
License - Original Office: $700.00*
- Initial
License - Branch Office: $700.00*
- License
Renewal: $700.00*
- Change in Control Update Form (Word)
* Applicants are currently charged a prorated fee of the $700 to ensure all licenses will expire on 12/31/2015. Going forward, all licenses will expire at the end of the calendar year.
You are required to obtain a MD Collection Agency Licensee Surety Bond Form (Word).
Consumer Lending
- Initial License - Original Office (Investigation Fee NOT included): $1,700.00
- Initial License - Branch Office (Investigation Fee NOT Included):$1,700.00
- Investigation Fee (non-refundable): $100.00
- License
Renewal: $1,700.00
You are required to obtain a MD Consumer Lender Licensee Surety Bond Form (Word).
Credit Services Businesses
- Initial License - Original Office (Word document,
download Word viewer for free) (Investigation Fee NOT included): $1,700.00
- Initial License - Branch Office (Word document,
download Word viewer for free) (Investigation Fee NOT Included):$1,700.00
- Investigation Fee (non-refundable): $100.00
- License Renewal (Word document,
download Word viewer for free): $1,700.00
You are required to obtain a MD Credit Services Business Licensee Surety Bond Form (Word).
Debt Management Companies
|
| |
| Debt Management Company’s Annual Gross Revenue
|
Initial License Fee
|
Investigation Fee
|
License Renewal Fee
|
| Not greater than $3,000,000
|
$1,000
|
$1000 (non-refundable) |
$1,000
|
| > $3,000,000, but not more than $6,000,000
|
$2,000
|
$1000 (non-refundable) |
$2,000
|
| > $6,000,000, but not more than $15,000,000
|
$4,000
|
$1000 (non-refundable) |
$4,000
|
| > $15,000,000, but not more than $30,000,000
|
$6,000
|
$1000 (non-refundable) |
$6,000
|
| > $30,000,000
|
$8,000
|
$1000 (non-refundable) |
$8,000
|
|
|
|
*Note: There is a fee of $100 for each additional MD Location. You are required to obtain a
MD Debt Management Services Licensee Surety Bond Form (Word).
|
| |
| Annual Volume of Maryland Transactions |
Loss Range |
Required Bond Amount |
| |
|
|
| Less than $240,000 |
$0 to $10,000 |
$10,000 |
| $240,001 to $600,000 |
$10,001 to $25,000 |
$25,000 |
| $600,001 to $1.2 million |
$25,001 to $50,000 |
$50,000 |
| $1.2 million to $1.8 million |
$50,001 to $75,000 |
$75,000 |
| $1.8 million to $2.4 million |
$75,001 to $100,000 |
$100,000 |
| $2.4 million to $4.8 million |
$100,001 to $200,000 |
$200,000 |
| $4.8 million to $9.6 million |
$200,001 to $400,000 |
$400,000 |
| $9.6 million to $14.4 million |
$400,001 to $600,000 |
$600,000 |
| $14.4 million to $19.2 million |
$600,001 to $800,000 |
$800,000 |
| More than $19.2 million |
More than $800,000 |
$1,000,000 |
|
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|
Debt Settlement Services Providers
Installment
Lenders
- Initial License - Original Office (Investigation Fee NOT included): $1,700.00
- Initial License - Branch Office (Investigation Fee NOT Included):$1,700.00
- Investigation Fee (non-refundable): $100.00
- License
Renewal: $1,700.00
You are required to obtain a MD Installment Loan Lenders Licensee Surety Bond Form (Word).
Money Transmitters
Using NMLS, a nationwide licensing system, you may pay either by electronic check or by credit card.
- Initial License/Form MU1 - Principal Office: $2,000.00
- Investigation Fee: $1,000.00
- License Renewal: $2,000.00
- NMLS Processing Fee (Company): $100
- NMLS Processing Fee (Branch): $20
- Amendments
- Change of Address: $0
- Change of Name: $0
- Change of Control: $0
You are required to obtain a MD Money Transmitter Licensee Surety Bond Form (Word).
Mortgage Lenders/Brokers/Services
Using NMLS, a nationwide licensing system, you may pay either by electronic check or by credit card.
- Initial License/ Form MU1 - Principal Office or Individual (Investigation fee NOT included): $1,000.00
- Initial License/ Form MU3 - Branch Office (Investigation fee NOT included): $1,000.00
- Investigation Fee (non-refundable/ not applicable to renewals): $1.00
- License Renewal: $1,000.00
- NMLS Processing Fee (Company): $100
- NMLS Processing Fee (Branch): $20
- Amendments
- Change of Address: $0
- Change of Name: $0
- Change of Control: $0
You are required to obtain a MD Mortgage Lenders/Brokers/Servicers Licensee Surety Bond Form (Word).
|
| |
|
Loan Activity
|
Bond Amount
|
| |
|
| $3,000,000.00 or less |
$50,000.00 |
| $3,000,000.01 - $10,000,000.00 |
$100,000.00 |
| $10,000,000.01 or more |
$150,000.00 |
| Five or more applications at the same time |
$750,000.00 |
|
|
|
Mortgage Loan Originators
Using NMLS, a nationwide licensing system, you may pay either by electronic check or by credit card.
- Initial License/ Form MU4 - (Investigation fee NOT included): $225.00
- Investigation Fee (non-refundable/ not applicable to renewals): $1.00
- License Renewal: $225.00
- NMLS Processing Fee: $30.00
- Amendments
- Change of Employer - $20.00
- Change of Name - $20.00
- Request for placement on non-active status - $0
- Request for return to active status (without change of employer) - $0
- Request for return to active status (with change of employer) - $20.00
Sales Finance Companies
The fees below are for a 2-year license. You may pay either
by check or by credit card. If you choose the credit card
option, the license fees will be reflected on your credit
card statement under "MD Financial Regulation."
- Initial License - Original Office (Investigation fee NOT included): $250.00
- Initial License - Branch Office (Investigation fee NOT included): $250.00
- License renewal (Investigation fee NOT included): $250.00
- Investigation Fee (non-refundable): $100.00*
*If three or more applications are submitted at one time, the maximum investigation fee is $300.00.
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