If the home state of an out-of-state mortgage lender has a brick and mortar requirement for out-of-state mortgage lenders, would Maryland require a physical presence of that out-of-state lender?
Yes, in connection with an application for a mortgage originator license. (FI ยง 11-603(d)) 10. I am an existing licensed mortgage lender/broker in the State of Maryland. I do not have a physical presence in Maryland. My home state requires a physical presence of an out-of-state mortgage lender, how does the new law affect me? Your mortgage originators will not be eligible for a mortgage originator license until you establish an office in Maryland staffed by at least one employee eligible to originate mortgage loans.
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