Section 12-108 – Licensing — Applications
(a) (1) To apply for a license, an applicant shall: (i) Complete, sign, and submit to the Commissioner an application made under oath in the form, and in accordance with the process, that the Commissioner requires; and (ii) Provide all the information that the Commissioner requests. (2) The application shall include: (i) The applicant’s name, the applicant’s principal executive office address, […]
Section 12-109 – Licensing — Application Investigation; Approval or Denial
(a) When an applicant for a license files the application and pays the fees required by § 12–108 of this subtitle, the Commissioner shall investigate the facts relevant to the application to determine if the applicant meets the requirements of this subtitle. (b) Unless the Commissioner and an applicant agree in writing to extend the time, the […]
Section 12-110 – Licensing — Contents and Scope; More Than One License
(a) (1) Each license provided for through NMLS shall include the following information: (i) The name of the licensee; (ii) 1. The address of the location at which check cashing services will be provided; or 2. If the license is for a mobile unit, the vehicle identification number of the mobile unit and the geographic area in which check cashing services […]
Section 11-607 – Investigation and Approval
(a) When an applicant for a license files the application and pays the fees required by § 11–604 of this subtitle, the Commissioner shall conduct an investigation to determine if the applicant meets the requirements of § 11–605 of this subtitle. (b) The Commissioner shall issue a license to an applicant who meets the requirements of § […]
Section 11-621 – Registration of Employees of Nonfederally Insured Credit Unions
Nonfederally insured credit unions that employ mortgage loan originators shall register these employees with the Nationwide Mortgage Licensing System and Registry by providing the information concerning the employees’ identity set forth in 12 U.S.C. § 5106(a)(2).
Section 11-608 – Denial of Application
(a) If the Commissioner denies an application, the Commissioner: (1) Within 10 days, shall notify the applicant, in writing, of the denial; and (2) Shall keep the license fee and the investigation fee. (b) Within 30 days after the Commissioner denies an application, the Commissioner shall: (1) Issue a written decision containing the specific factual findings and conclusions of law […]
Section 11-622 – Reports to Nationwide Mortgage Licensing System and Registry; Regulations
(a) Notwithstanding Title 4, Subtitles 1 through 5 of the General Provisions Article, and subject to § 11–620 of this subtitle, the Commissioner shall report adjudicated enforcement actions and other relevant information to the Nationwide Mortgage Licensing System and Registry. (b) The Commissioner shall adopt regulations establishing a process by which a licensee or an applicant for […]
Section 11-609 – Term, Expiration, and Renewal of License
(a) Subject to any regulations the Commissioner adopts in connection with the transition to NMLS, an initial license term shall: (1) Begin on the first day the license is issued; and (2) Expire on December 31 of the year: (i) In which the license is issued, if the license is issued before November 1; or (ii) Succeeding the year in […]
Section 11-623 – Display of Unique Identifier
The unique identifier of a mortgage loan originator shall be clearly displayed as required by the Commissioner by regulation.
Section 11-610 – Nondepository Special Fund
(a) There is a Nondepository Special Fund that consists of: (1) Revenue received for the licensing of individuals under this subtitle; (2) Revenue received for the licensing of persons under Subtitle 2 of this title; (3) Revenue received for the licensing of persons under Subtitle 3 of this title; (4) Revenue received for the licensing of persons under Subtitle 4 […]