I have had a Mortgage Lender license for years, but now need a Mortgage Loan Originator license as my exemption has been eliminated. Am I considered a new licensee or a renewing licensee?
You are a NEW licensee. However, provided you apply on or before July 31, 2009, you are eligible for an INTERIM Mortgage Loan Originator license. As noted above, this Interim Originator status will allow you to continue to operate, subject to the same limitations as you were under through your prior exemption, while you complete certain licensing requirements (pre-licensing education, testing, criminal background check). You must complete these requirements by July 31, 2010 or your license will be revoked. See the New Application Checklist for Maryland Mortgage Loan Originators for more details.
Related Questions
- My Maryland Mortgage Loan Originator or Mortgage Lender license will not expire for some time. Do I have to wait until immediately before my license expires to transition/renew through the NMLS?
- I have had a Mortgage Lender license for years, but now need a Mortgage Loan Originator license as my exemption has been eliminated. Am I considered a new licensee or a renewing licensee?
- How does a mortgage loan originator working for a licensed mortgage lender or mortgage broker meet the requirement to be covered by a surety bond?
