Affiliated Insurance Producers - Mortgage Loan Originators
- Initial License/ Form MU4 - (Investigation fee NOT included): $700.00
- Investigation Fee (non-refundable/ not applicable to renewals): $100.00
- License
Renewal: $700.00
- NMLS Processing Fee: $30
- Amendments
- Change of Employer: $75
- Change of Name: $75
- 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):
$75
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, 424KB, download
Word viewer for free) (Investigation Fee NOT included):
$1,000
-
Initial License - Branch Office (Word document, 468KB,
download
Word viewer for free) (Investigation Fee NOT included):
$1,000
-
Renewal Application (Word document, 361KB,
download
Word viewer for free) :
$1,000
- Investigation Fee (non-refundable): $100
- License Renewal: $1,000
Collection Agencies
- Initial
License - Original Office: $400.00 (will increase to $700
effective October 3, 2011)
- Initial
License - Branch Office: $400.00 (will increase to $700
effective October 3, 2011)
- License
Renewal: $400.00 (will increase to $700 effective October
3, 2011)
You are required to obtain a surety
bond (Word document, 38KB, download
Word viewer for free) or valid continuation certificate
that runs to the Commissioner of Financial Regulation in the
amount of $5,000.00 in favor of the State of Maryland. The
term of the bond must be continuous until cancelled.
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 surety
bond (Word document, 38KB, download
Word viewer for free) or valid continuation certificate that runs to the Commissioner of Financial Regulation in the amount of $12,000.00 in favor of the State of Maryland. The term of the bond must be continuous until cancelled.
Credit Services Businesses
- Initial
License - Original Office (Word document, 380KB, download
Word viewer for free) (Investigation Fee NOT included):
$1,700.00
- Initial License - Branch Office (Word document,
385KB, download
Word viewer for free) (Investigation Fee NOT Included):$1,700.00
- Investigation Fee (non-refundable): $100.00
- License Renewal: $1,700.00
You are required to obtain a surety
bond (Word document, 38KB, download
Word viewer for free) or valid continuation certificate that runs to the Commissioner of Financial Regulation in the amount of $12,000.00 in favor of the State of Maryland. The term of the bond must be continuous until cancelled.
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
surety
bond (Word document, 38KB, download
Word viewer for free) that runs to the Commissioner of Financial Regulation. The amount of the surety device shall be based on the annual volume of Maryland transactions.
|
| |
| 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
- Initial
Registration: (non-refundable) $1,000.00 (2-year registration)
(Word document, 208KB, download
Word viewer for free)
A surety
bond (Word document, 38KB, download
Word viewer for free) in the amount of $50,000 is
required if the registrant establishes a dedicated account
in accordance with Md. Code Ann., Fin. Inst. § 12-1010(D).
The surety bonds (if applicable) must be filed with the
State of Maryland Commissioner of Financial Regulation
at the time the dedicated account is established.
-
Registration Renewal: (non-refundable) $1,000.00 (Word
document, 208KB, download
Word viewer for free)
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 surety
bond (Word document, 38KB, download
Word viewer for free) or valid continuation certificate that runs to the Commissioner of Financial Regulation in the amount of $12,000.00 in favor of the State of Maryland. The term of the bond must be continuous until cancelled.
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 surety bond (see Money Transmitter New Application Checklist, page 4 [PDF document, download
Adobe Acrobat for free]) that runs to the Commissioner of Financial Regulation or file evidence of a deposit in lieu of a surety bond/money transmitter custodial and pledge agreement (see Money Transmitter New Application Checklist, page 4 [PDF document, download
Adobe Acrobat for free]) to be held by the Commissioner. The amount of the surety device shall be $150,000 - $1,000,000, as determined by the Commissioner.
Mortgage Lenders/Brokers/Services
Using the Nationwide Mortgage Licensing System ("NMLS"), 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): $100.00
- 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 surety
bond (Word document, 38KB, download
Word viewer for free) that runs to the Commissioner of Financial Regulation for the benefit of mortgage loan borrowers. The bond amount will depend upon the aggregate lending activity reflected in your application's Sworn Activity Statement. The term of the bond must be concurrent with the licensing period.
|
| |
|
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 the Nationwide Mortgage Licensing System ("NMLS"),
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): $100.00
- License Renewal: $225.00
- NMLS Processing Fee: $30
- Amendments
- Change of Employer - $75
- Change of Name - $75
- 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) - $75
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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