New Mortgage Loan Application Letter by jay94919

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									                                                                                                 MD
                                                 New Application
                                         Jurisdiction-Specific Requirements



MARYLAND MORTGAGE LOAN ORIGINATOR LICENSE

 Instructions


 1.    Each Mortgage Loan Originator (MLO) must be separately licensed, which requires the submission
       of Form MU4 through NMLS.
 2.    The Mortgage Loan Originator’s license will not be approved until a sponsorship request is
       submitted by the originator’s employer. A Mortgage Loan Originator licensee may only be
       sponsored by one company and maintain an active relationship with one licensed (or exempt)
       location. A quick guide titled “Create Sponsorship” at the following link will help walk your company
       through this process: NMLS Quick Guides
 3.    To receive “Approval” status Mortgage Loan Originators must satisfy the following requirements.
                    Complete 20 hours of NMLS approved pre-licensure education courses
                    Passing score on both the National and State components of the SAFE MLO Test
                    Both a Federal and State criminal history background check
                    Authorization for a credit report
                    Sponsorship by a licensed Mortgage Lender or exempt entity
 4.    Federal Criminal Background Check. ALL mortgage loan originators must submit their
       fingerprints to NMLS for purposes of a Federal criminal history record check from the FBI.
       Note: Fingerprints submitted for a Federal criminal background check outside the NMLS will not
       satisfy the SAFE Act requirement and new fingerprints will have to be submitted to the NMLS (i.e.,
       the fingerprinting process will need to be done twice).
 5.    State Criminal Background Check. ALL mortgage loan originators must also submit their
       fingerprints to the Criminal Justice Information System (CJIS) Central Repository of the Maryland
       Department of Public Safety and Correctional Services for purposes of a State criminal history
       record check.
 6.    Total cost of the license request including the NMLS processing fee is $409. The total includes the
       initial annual license fee ($225), application investigation fee ($100), and NMLS annual processing
       fee ($30). A $15 fee for a credit report will be added if one has not been authorized through NMLS
       in the past 30 days. You will also pay an additional $39 if you authorize a criminal background
       check at time of application.
 7.    All NMLS processing fees, Federal criminal background check fees, credit report fees and
       Maryland investigation fees collected through the NMLS ARE NOT REFUNDABLE.
 8.    The Commissioner will review the filing and all required documents and communicate with you
       through NMLS. To review your status in NMLS, click the Tasks tab and click Work List.
 9.    Before processing of your application can be completed, jurisdiction-specific requirements as
       identified on the checklist must be received with this checklist by the State of Maryland within 5
       business days of the electronic submission of your application through the NMLS at the address
       below.

 Updated: 2-9-2011                                                                                  Page 1 of 3
      If your application package is incomplete (including, explanations and/or required documentation
      not submitted in the required format) sixty (60) days after the filing of your MU4 through NMLS, the
      Commissioner may terminate the processing of your application. To obtain a license, you will need
      to reapply for a new license and submit the required documentation for review and processing.


                             For U.S. Postal Service or Overnight Delivery

                                 Commissioner of Financial Regulation
                                         Attn: Licensing Unit
                                   500 N. Calvert Street, Suite 402
                                     Baltimore, Maryland 21202

NMLS Unique ID Number:         ________________
Applicant Legal Name:          ______________________________________


                NOT
ATTACHED                                                            ITEM
             APPLICABLE


   £                £     DISCLOSURE QUESTIONS. Provide complete written details of all events or
                          proceedings for any “Yes” answer to any of the Disclosure questions. Include copies
                          of supporting documentation, such as administrative orders, civil and/or criminal
                          judgments or pending charges or convictions.

   £                £     STATE CRIMINAL BACKGROUND CHECK – GENERAL. Fingerprints must be
                          submitted to the Criminal Justice Information System (CJIS) Central Repository of the
                          Maryland Department of Public Safety and Correctional Services to conduct State
                          criminal history checks. If any negative criminal history is reported, you are required
                          to provide to the Commissioner a written explanation and any applicable supporting
                          legal documentation. (Specifically, but not limited to the final dispositions, orders of
                          expungement, and any other court documents. If the documents are unavailable,
                          provide a letter from the court that states that the documents are unavailable.)
                          The State criminal background check is NOT operational through the NMLS
                          and must be completed separate from the Federal background check.
                          Therefore, if you have not already done so, as soon as possible, please visit an
                          electronic fingerprinting location for processing. See the Maryland website for
                          electronic fingerprinting locations in Maryland. Electronic fingerprinting usually results
                          in a much quicker response time.
                          IMPORTANT: You must provide this Agency’s authorization number (9700081215)
                          and ORI # (MD920370Z) or the Commissioner’s office will NOT receive the results of
                          your State criminal background check.
                          Alternatively, and if you are outside the State of Maryland, forward completed
                          State fingerprint card and the required fees to CJIS, P.O. Box 32708, Pikesville,
                          Maryland 21282-2708.
                          IMPORTANT: You must use the fingerprint card received from the Commissioner’s
                          office or we will NOT receive the results of your State criminal background check.

   £                £     CRIMINAL BACKGROUND CHECK CLARIFICATIONS. If any negative criminal
                          history is reported on either or both your Federal and State criminal history reports,
                          you are required to provide to the Commissioner a written explanation and any
                          applicable supporting legal documentation. (Specifically, but not limited to the final

Updated: 2-9-2011                                                                                    Page 2 of 3
                        dispositions, orders of expungement, and any other court documents. If the
                        documents are unavailable, provide a letter from the court that states that the
                        documents are unavailable.).

   £                £   CREDIT REPORT CLARIFICATIONS. If any negative financial history is reported,
                        you must provide to the Commissioner a written explanation of each negative item
                        and provide all applicable supporting documentation (including but not limited to,
                        proof of status, proof of payment, bankruptcy filings, proof of discharge or settlement,
                        etc).

   £                £   AFFIDAVIT - GENERAL. Provide an affidavit pertaining to Maryland Mortgage
                        Originator Activity. Use the affidavit form found here.
                        Click to download form


WHO TO CONTACT – Contact NMLS at 240-386-4444 for questions pertaining to the NMLS. Contact
the Commissioner of Financial Regulation licensing staff by phone at 410-230-6155 or 888-784-0136 for
further assistance regarding Maryland specific requirements.



 THE APPLICANT/LICENSEE IS FULLY RESPONSIBLE FOR ALL OF THE REQUIREMENTS OF THE
  LICENSE FOR WHICH THEY ARE APPLYING. THE JURISDICTION SPECIFIC REQUIREMENTS
 CONTAINED HEREIN ARE FOR GUIDANCE ONLY TO FACILITATE APPLICATION THROUGH THE
        NMLS. SHOULD YOU HAVE QUESTIONS, PLEASE CONSULT LEGAL COUNSEL.




Updated: 2-9-2011                                                                                Page 3 of 3

								
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