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Mortgage Lender Frequently Asked Questions (FAQs) - Financial Regulation

GENERAL FAQs

1. Where do I find information about the Mortgage Lender (ML) license application?
Before applying for the ML license, you should view the Maryland license description and licensing requirements as well as the "Getting Started: Companies" pages NMLS Resource Center.

EDUCATION FAQs

* For more information regarding SAFE education requirements, visit the NMLS Resource Center > Professional Standards > Education page.

Pre-Licensing Education FAQs

1. What are the pre-licensing (PE) requirements for Mortgage Lenders/Brokers and/or Servicers in Maryland?
There are no PE education requirements for Mortgage Lender applicants.

Continuing Education FAQs

1. What is continuing education (CE)?
Continuing Education is the education required to be completed prior to the renewal of the ML, MLO, and AIP-MLO licenses. The SAFE Act requires 8 hours of CE to be completed each year prior to renewal. Please see Maryland's required CE for Mortgage Lenders/Brokers for details.

2. What are the CE requirements for the Maryland Mortgage Lender licensee?
Approved continuing education courses may be found on the NMLS Resource Center. Annually, prior to the renewal of the ML, MLO or AIP-MLO license, you must take 8 hours CE. The CE standards are prescribed by Md. Code Ann., Financial Institutions Sec. 11-612 and the SAFE Mortgage Licensing Act and include:

  1. 3 hours of federal law and regulations;
  2. 2 hours of ethics that shall include instruction on fraud, consumer protection, and fair lending issues;
  3. 2 hours of training related to lending standards for the nontraditional mortgage product market; and
  4. 1 hour of Maryland instruction on mortgage-related laws.

CRIMINAL BACKGROUND CHECK FAQs

1. Does Maryland require both a Federal and a State criminal background (CBC) check?
No. Maryland requires only a Federal criminal background check. The Federal criminal background check must be requested via NMLS.

2. How do I request my federal criminal background check?
NMLS has added functionality that allows MLOs and sponsoring companies to authorize, request, and pay for a federal criminal background check within the system. You can access this functionality by logging into your account on NMLS.

Full information concerning federal criminal background check processing can be found on the NMLS Resource Center > Professional Standards > Criminal Background Check page.

3. How do I get a copy of my Federal criminal history record or "rap sheet"?
To request a review of your Federal record search the Federal Bureau of Investigation (FBI), click stats & services, then click background checks.

4. How do I obtain a copy of my court disposition?
In order to obtain a copy of your court disposition you must contact the court that heard your case (i.e. city, county, state, and/ or federal courts).