The Maryland Department of Labor, Licensing and Regulation (DLLR), Division of Financial Regulation,
issues a financial regulation license that covers the Mortgage Brokering business. A
separate license is not required for second mortgages.
All Maryland mortgage licenses are handled through the National Mortgage Licensing System.
Prelicensing requirements include approved courses that are 20 or more hours and contain 3
hours of Federal Law, 3 hours of Ethics, 2 hours of Non-traditional Mortgage Lending plus
12 or more hours of electives. This may be in addition to Maryland-required content. Continuing Education
Requirements include at least eight hours of NMLS approved instruction.
The licensing fee for NMLS for Loan
is $394, and the fee for Mortgage
(Broker) is $1,200. Click on the link in the preceding sentence for more
details about each license.
Applicants who desire to become a Mortgage Broker in Maryland
must have at least three
years of mortgage banking experience and provide a Surety Bond ranging from $50,000 to
$150,000 depending on the dollar volume of loans during the prior 36 months.
Current audited financial statements (within the prior 12 months) plus a current Credit
Report are required to be submitted with the application.
As of July, 2000, twenty hours of approved continuing education courses are required for
renewal of the Mortgage Broker license.
The Maryland Association of Mortgage Brokers
an affiliate of the National Association of Mortgage Brokers
(NAMB). The MAMB actively supports legislation and education for existing Mortgage Brokers
and those who desire to get a Mortgage Broker License in Maryland
Maryland Mortgage Forms
Maryland Reciprocity States
(as of 2/23/2010)
Maryland Approved Mortgage Schools Prelicensing and Postlicensing
Abacus Mortgage Training
|Last Update: 2/22/2010
This list may not include all approved schools. Please visit the Division of Financial Regulation
website for the latest list of approved schools.