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Mortgage Lenders, Brokers and/or Servicers - Financial Regulation

Last reviewed or updated: January 16, 2023

A Mortgage Lender is defined as any business who is a mortgage broker, makes a mortgage loan to any person, or is a mortgage servicer.

  • A Mortgage Broker is a business that for a fee, or other valuable consideration, whether received directly or indirectly, aids or assist a borrower in obtaining a mortgage loan and is not named as a lender in the agreement, note, deed of trust, or other evidence of the indebtedness.
  • A Mortgage Servicer is a business that engages in whole or in part in the business of servicing mortgage loans for others or collects or otherwise receives payments on mortgage loans directly from borrowers for distribution to any other person.  This includes a subservicer, as well as a business that owns mortgage servicing rights but contracts with a subservicer.
  • An Exempt Entity is (1) a subsidiary or affiliate of any bank, trust company, savings bank, savings and loan association, or credit union incorporated or chartered under Maryland law, or any other-state bank (defined in Md. Code Ann., Fin. Inst. §5-1001) having a branch that accepts deposits in Maryland, who engages in the mortgage lending business (including the making or procuring of loans primarily for personal, family, or household use secured by a dwelling or residential real estate located outside of Maryland) as a lender, servicer, or broker. To qualify for this exemption, the subsidiary or affiliate must also be subject to audit or examination by a Maryland regulatory body or agency or the state where the subsidiary or affiliate maintains its principal office.  Additionally, (2) this designated exemption is available for a business that employs state-licensed mortgage loan originators but is not required to be licensed under the laws of Maryland. The designated exemption is intended for companies that wish to manage their mortgage loan originators in NMLS.

This license is required for any person (defined in Md. Code Ann., Fin. Inst. §1-101) who engages in the mortgage lending business (including the making or procuring of loans primarily for personal, family, or household use secured by a dwelling or residential real estate located outside of Maryland) as a lender, servicer, or broker. Refer to Md. Code Ann., Fin. Inst. §11-501 et seq. for legal requirements. For more detailed information on this license type please proceed to the NMLS Resource Center.

License Requirements and Fees

A separate Branch License is required for each location of any person (defined in Md. Code Ann., Fin. Inst. §1-101) who engages in the mortgage lending business (including the making or procuring of loans primarily for personal, family, or household use secured by a dwelling or residential real estate located outside of Maryland) as a lender, servicer, or broker. Refer specifically to Md. Code Ann., Fin. Inst. §11-505(b) and generally to Md. Code Ann., Fin. Inst. §11-501 et seq. for legal requirements.

Branch License Requirements and Fees

An Exempt Company Registration is required for a subsidiary or affiliate of any bank, trust company, savings bank, savings and loan association, or credit union incorporated or chartered under Maryland law, or any other-state bank (defined in Md. Code Ann., Fin. Inst. §5-1001) having a branch that accepts deposits in Maryland, who engages in the mortgage lending business (including the making or procuring of loans primarily for personal, family, or household use secured by a dwelling or residential real estate located outside of Maryland) as a lender, servicer, or broker. To qualify for this registration, the subsidiary or affiliate must also be subject to audit or examination by a Maryland regulatory body or agency or the state where the subsidiary or affiliate maintains its principal office. Additionally, this registration is available for businesses that are exempt from the mortgage lender licensing requirement, but who employ state-licensed mortgage loan originators. Registration for this purpose is necessary for those entities in order to manage their mortgage loan originators in NMLS. Please consult with the Licensing Unit before applying for this registration.

Registration Requirements and Fees

Additional Information and Documents


Laws, Rules, and Regulations

Applicants and licensees are expected to be knowledgeable about and in compliance with the Maryland Mortgage Lender Law, and any other applicable State or Federal statutes, rules, and regulations. Maryland laws, rules, and regulations can be found by accessing the Annotated Code of Maryland and Rules and Code of Maryland Regulations (COMAR).  Certain relevant Maryland laws, rules, and/or regulations include (Note: this is not a comprehensive list):