Office of the Commissioner of Financial Regulation

 

Course Providers - Education Information

 

Pursuant to Maryland Code Ann., Financial Institutions §§ 11-606 and 11-612, and the SAFE Mortgage Licensing Act, education requirements and approval processes for Maryland mortgage originators have changed. The requirements for mortgage originators are below:

PRE LICENSING REQUIREMENT - 20 Hours

  • Federal Law and Regulations:  3 Hours
  • Ethics, Fraud, Consumer Protection and Fair Lending:  3 Hours
  • Lending Standards for Nontraditional Mortgage Products:  2 Hours
  • Maryland Mortgage-Related Law:  3 Hours
  • Maryland Finders Fee Law:  2 Hours
  • Electives:  7 Hours

*** Mortgage originators transitioning to NMLS and renewing their licenses during the transition period (July 1, 2009 to December 31, 2010) must satisfy the pre-licensing requirements in transitioning to NMLS, but may use Maryland-approved continuing education or pre-licensing courses completed within the last 5 years to satisfy this requirement (see Mortgage Licensing Update #13 regarding certification of previously completed Maryland education).

CONTINUING EDUCATION REQUIREMENTS - 8 Hours

  • Federal Law and Regulations:  3 Hours
  • Ethics, Fraud, Consumer Protection and Fair Lending:  2 Hours
  • Lending Standards for Nontraditional Mortgage Products:  2 Hours
  • Instruction on Maryland Mortgage-Related Law:  1 Hours

COURSE PROVIDERS AND COURSES  - APPROVAL PROCESS

Providers and coursework to be offered must be approved through the Nationwide Mortgage Licensing System (NMLS). Course providers are encouraged to visit the NMLS website for more details on the approval process.


For questions about course requirements, providers and approved courses, go to the NMLS Education Resource Page or call NMLS at 240-386-4444. For other inquiries specific to Maryland requirements, contact Juan Sempertegui, Director of Licensing at the Office of the Commissioner at 410-230-6102.

 
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