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09.03.06 - Commissioner of Financial Regulation - Final Regulations

FINAL ACTION ON REGULATIONS
MARYLAND REGISTER, VOLUME 44, ISSUE 15,
FRIDAY, JULY 21, 2016

Title 09
DEPARTMENT OF LABOR, LICENSING, AND REGULATION

Subtitle 03 COMMISSIONER OF FINANCIAL REGULATION

09.03.09 Mortgage Loan Originators

Authority: Business Regulation Article, §2-105; Financial Institutions Article, §§2-105.1, 11-602, 11-603.1, 11-605, 11-606, 11-609, 11-612, 11-612.1, and 11-613(b);; Annotated Code of Maryland

Notice of Final Action
[17-045-F]

On July 7, 2017, the Acting Commissioner of Financial Regulation adopted amendments to Regulations .01—.05, the repeal of existing Regulation .06, the recodification of existing Regulation .07 to be Regulation .06, and new Regulations .07—.09 under COMAR 09.03.09 Mortgage Loan Originators. This action, which was proposed for adoption in 44:2 Md. R. 102—104 (January 20, 2017), has been adopted with the nonsubstantive changes shown below.

Effective Date: July 31, 2017.

Attorney General's Certification

In accordance with State Government Article, §10-113, Annotated Code of Maryland, the Attorney General certifies that the following changes do not differ substantively from the proposed text. The nature of the changes and the basis for this conclusion are as follows:

COMAR 09.03.09.09B(3)(a): The nonsubstantive change involves the deletion of a cross-reference to a proposed regulation made contemporaneous herewith, but is still being revised and thus not ready for final action. This change is not substantive because the cross-reference is not necessary to the function of the proposed regulation, and its removal does not affect the purpose of the regulation.

.09 Advertising and Solicitation.
  A. (proposed text unchanged)
  B. Licensee Name and Address.
    (1) — (2) (proposed text unchanged)
    (3) In any advertisement, a mortgage loan originator must disclose:
      (a) The name or approved trade name [[as required by COMAR 09.03.06.04L]] of the mortgage loan originator’s employer; and
      (b) The mortgage loan originator’s NMLSR Unique Identifier.
    (4)
(proposed text unchanged)

ANTONIO P. SALAZAR
Acting Commissioner of Financial Regulation