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?
No. While current licensees must transition to and renew their licenses through the NMLS prior to expiration, you are free to transition/renew at any time in advance of expiration. As noted above, if your current license expires between July 1, 2009 and December 31, 2010, your renewal license term will expire on December 31, 2010 and you will be charged a pro-rated fee based on the length of that term. 3. I don’t have a Mortgage Lender or Mortgage Loan Originator license, but I want to obtain a license. Must I go through NMLS to submit my Maryland application to the Office of the Commissioner of Financial Regulation? Yes. Applications for new Maryland Mortgage Lender or Mortgage Loan Originator licenses must be initiated through the NMLS website. You must be licensed before originating Maryland mortgage loans or engaging in the “mortgage lending business” (making, brokering or servicing Maryland mortgage loans). If you were previously exempt from licensing as a Mortgage Loan Originator
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?
