Mortgage licensing / Maryland

Maryland Mortgage Lender License

company licence · NMLS MDLENDER_C · OFR

Requirements (24)

1. Step 1

   Financial Statement: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement.

   Submitted via: NMLS

2. Step 2

   Financial Statement: Upload a compiled, reviewed or audited financial statement prepared by a Certified Public Accountant accordance with Generally Accepted Accounting Principles OR any other recognized comprehensive basis of accounting approved by the Commissioner, and dated within 90 days of the applicant’s fiscal year end. Financial statements should include a Balance Sheet, Income Statement and Statement of Cash Flows and all relevant notes thereto. The financial statement must show a minimum tangible net worth as indicated below, based upon the amount of money lent and the size of the servicing portfolio. Aggregate Mortgage Lending In Prior 12 Months Minimum Tangible Net Worth Applicant did not lend, or lent $1,000,000 or less $25,000 $1,000,000.01 to $5,000,000 $50,000 $5,000,000.01 to $10,000,000 $100,000 More than $10,000,000 $250,000 Size of Servicing Portfolio Minimum Tangible Net Worth $50,000,000 or less $100,000 $50,000,001-$100,000,000 $250,000 $100,000,001-$250,000,000 $500,000 More than $250,000,000 $1,000,000 GSE-approved servicer As required by GSE If applicant has not proven that the applicant meets the minimum net worth requirement via financial statement, provide proof that the requirement is met through one of more of the follow: 1. Cash on deposit with a bank or depository institution. Provide a bank letter (on bank’s stationery and signed by an officer of the bank) verifying: a. The account balance; b. The type of account in which the funds are held: and c. That the funds are not encumbered or hypothecated in any way. 2. A working capital line of credit from a bank or depository institution. Provide a copy of the line of credit agreement and promissory note. • A line of credit may not be used to satisfy more than 75% of the minimum tangible net worth requirements • A line of credit may not be used toward satisfying a servicer’s tangible net worth requirement 3. Other assets; or A combination of cash, a line of credit, and/or other assets. See Md. Code Ann., Fin. Inst. § 11-508.1. Note: Financial statements are uploaded separately under the Filing tab and Financial Statement submenu link. See the Financial Statements Quick Guide for instructions.

3. Step 3

   Other Trade Name: If operating under a name that is different from the applicant’s legal name, that name (“Trade Name”, “Assumed Name” or “DBA”) must be listed under the Other Trade Names section of the Company Form (MU1). MD does not limit the number of other trade names. If operating under an “Other Trade Name”, upload a trade name registration certificate issued by the Maryland Department of Assessments and Taxation. This document should be named [State-License Type] Trade Name – Assumed Name.

   Submitted via: NMLS Upload in NMLS: under the Document Type Trade Name/Assumed Name Registration Certificates in the Document Uploads section of the Company Form (MU1).

4. Step 4

   Resident/Registered Agent: The Resident Agent must be listed under the Resident/Registered Agent section of the Company Form (MU1) and must match the information currently on record with the Maryland Department of Assessments and Taxation.

   Submitted via: NMLS

5. Step 5

   Qualifying Individual: The sole proprietor, coventurer, general partner, principal officer or member who has at least 3 years of experience in the mortgage lending business must be listed on the NMLS Company Form (MU1).

   Submitted via: NMLS

6. Step 6

   Credit Report: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement.

   Submitted via: NMLS

7. Step 7

   Credit Report Explanations: Submit a line by line, detailed letter of explanation of all derogatory credit accounts along with proof of payoffs, payment arrangements and evidence of payments made, or evidence of any formal dispute filed (documents must be dated). Accounts to address include, but are not limited to: collections items, charge offs, accounts currently past due, accounts with serious delinquencies in the last 3 years, repossessions, loan modifications, etc. Note: Items regarding bankruptcy, foreclosure actions, outstanding judgments or liens, or delinquent child support payments should be addressed in the Disclosure Explanations section of your Individual Form (MU2). This document should be named Credit Report Explanations – Sub Name – Document Creation Date.

   Submitted via: Upload in NMLS: under the Document Type Credit Report Explanations in the Document Uploads section of the Individual Form (MU2).

8. Step 8

   MU2 Individual FBI Criminal Background Check: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement.

   Submitted via: NMLS

9. Step 9

   Electronic Surety Bond: See the License Requirements and Fees Chart on the NMLS Resource Center for details related to this Requirement.

   Submitted via: Electronic Surety Bond in NMLS • Brokering/Lending (prior 12 months): • No lending (brokers) or lent $5MM or less in the prior year: $50k. • Lent >$5MM to $25MM: $100k. • Lent >$25MM to $100MM: $250K. • Lent >$100MM to $250MM: $500k. • Lent >$250MM: $750k. • Servicing • Total MD servicing portfolio (includes loans serviced under MSRs, loans subserviced for others, and loans subserviced by others) $10MM or less: $50k. • Total MD servicing portfolio >$10MM to $100MM: $100k. • Total MD servicing portfolio >$100MM to $1BN: $250K. • Total MD servicing portfolio >$1BN to $5BN: $500k. • Total MD servicing portfolio >$5BN: $750k.

10. Step 10

    Electronic Surety Bond: Electronic Surety Bond via NMLS in the amount described below furnished and submitted by a surety company authorized to conduct business in Maryland. See the ESB Adoption Table and the ESB for NMLS Licensees page of the NMLS Recourse Center for more information. Note: Surety bonds submitted via the Document Uploads section will not satisfy this requirement. Volume of Mortgage Business In Past 12 Months Min Bond Amount No lending (brokers) or lent $5MM $50,000 Lent >$5MM to $25MM: $100,000 Lent >$25MM to $100MM: $250,000 Lent >$100MM to $250MM:$500,000 Lent >$250MM:$750,000 Servicing Total MD servicing portfolio (includes loans serviced under MSRs, loans subserviced for others, and loans subserviced by others) $10MM or less:$50.000 Total MD servicing portfolio >$10MM to $100MM$100,000 Total MD servicing portfolio >$100MM to $1BN:$250,000 Total MD servicing portfolio >$1BN to $5BN:$500.000 Total MD servicing portfolio >$5BN:$750,000

11. Step 11

    Business Plan: Upload a business plan outlining the following information: • Marketing strategies • Products • Target markets • Fee schedule • Operating structure the applicant intends to employ. • A general description of the company’s business model. • A list of services contemplated to be offered to Maryland consumers. • A list of vendor or affiliate relationships, and the activities and/or services that the proposed vendors or affiliates will provide. • • A description of any prior Maryland mortgage business activity, and, if there was any such activity, the applicant’s NMLS ID and Maryland license number at the time of that activity or an explanation of any exemption to licensure claimed. If there was mortgage business activity while the applicant was not licensed and was not exempt from licensure, provide: • Dates such activity was conducted; • Name of each consumer involved; • Amounts of any payments received from each consumer; • Copies of any related consumer correspondence; • Name of any creditor to whom any mortgage loans were brokered; • All locations where mortgage lending, servicing, or brokering was conducted; • All other relevant documentation. This document should be named [Company Legal Name] Business Plan. Note: If the existing uploaded business plan already includes the above information, an additional document does not need to be uploaded. A company should only upload a single business plan. If state-specific material is required, this information should be added to the existing uploaded business plan.

    Submitted via: Upload in NMLS: under the Document Type Business Plan in the Document Uploads section of the Company Form (MU1).

12. Step 12

    Business Continuity Plan: Upload a business continuity plan providing information on how you protect from threats to the business, such as disasters, pandemics, etc., and how you maintain and/or recover essential functions, systems, processes, and other business operations during or after such an event.

    Submitted via: Upload in NMLS: under the Document Type Business Continuity Plan in the Document Uploads section of the Company Form (MU1).

13. Step 13

    Certificate of Authority/Good Standing Certificate: If applicant is an entity formed in a state other than Maryland, attach a certificate of good standing issued by applicant’s state of formation not more than sixty (30) days prior to the date of this application. This document should be named [[State prefix] Certificate of Authority OR [State prefix] Certificate of Good Standing]. NOTE: You must be registered and in good standing with the Maryland Department of Assessments and Taxation to be licensed. Good standing will be verified at http://dat.maryland.gov. If not in good standing at the time your application is submitted, you will be required to upload proof of good standing before your license may be approved.

    Submitted via: Upload in NMLS: under the Document Type Certificate of Authority/Good Standing Certificate in the Document Uploads section of the Company Form (MU1).

14. Step 14

    Internal Policies: Upload document(s) including information organizational policies and procedures. If submitting multiple policies, upload and name each policy separately. The document must include, at a minimum, the following information: • Enterprise-wide risk management • Risk and compliance management systems/internal controls This document should be named [Name of Policy].

    Submitted via: Upload in NMLS: under the Document Type Company Staffing and Internal Policies in the Document Uploads section of the Company Form (MU1).

15. Step 15

    Document Samples: Upload copies of the following sample documents used in the regular course of business in connection with this license: • Copies of representative contracts, consumer agreements, disclosures, and any other relevant documents that are required by Maryland law to be used in the proposed business activities. This document should be named [Name of Document Sample].

    Submitted via: Upload in NMLS: under Document Samples in the Document Uploads section of the Company Form (MU1).

16. Step 16

    Formation Documents: Determine classification of applicant’s legal status and submit a State certified copy of the requested applicable documentation detailed below. Original formation documents and all subsequent amendments, thereto including a list of any name changes. Sole Proprietor • No documents required. Unincorporated Association: • By-Laws or constitution (including all amendments). General Partnership: • Partnership Agreement (including all amendments). Limited Liability Partnership: • Certificate of Limited Liability Partnership; and • Partnership Agreement (including all amendments). Limited Partnership: • Certificate of Limited Partnership; and • Partnership Agreement (including all amendments). Limited Liability Limited Partnership: • Certificate of Limited Liability Limited Partnership; and • Partnership Agreement (including all amendments). Limited Liability Company (“LLC”): • Articles of Organization (including all amendments); • Operating Agreement (including all amendments); • IRS Form 2553 or IRS Form 8832 if S-corp treatment elected; and • LLC resolution if authority not in operating agreement. Corporation: • Articles of Incorporation (including all amendments); • By-laws (including all amendments), if applicable; • Shareholder Agreement (including all amendments), if applicable; • IRS Form 2553 if S-corp treatment elected; and • Corporate resolution if authority to complete application not in By-Laws or Shareholder Agreement, as amended, as applicable. Trust (Statutory) • Certificate of Trust; and • Governing instrument (all amendments).

    Submitted via: Upload in NMLS: under Formation Document” in the Document Uploads section of the Company Form (MU1) This document should be named Formation Documentation [Date of Creation (MM-DD-YYYY)].

17. Step 17

    Management Chart: Submit a Management chart displaying the applicant’s directors, officers, and managers (individual name and title). Must also identify compliance reporting and internal audit structure. This document should be named [Company Legal Name] Management Chart. Note: If the organizational chart (below) also includes this information, a separate management chart is not required. A company should only upload a single management chart.

    Submitted via: Upload in NMLS: under Management Chart in the Document Uploads section of the Company Form (MU1).

18. Step 18

    Organizational Chart/Description: Submit a chart showing (or a description which includes) the percentage of ownership of: • Direct Owners (total direct ownership percentage must equate to 100%) • Indirect Owners • Subsidiaries and Affiliates of the applicant/licensee This document should be named [Company Legal Name] Organizational Chart – Description.

    Submitted via: Upload in NMLS: under Organizational Chart/Description in the Document Uploads section of the Company Form (MU1).

19. Step 19

    Volume of Business: In order to determine the amount of the bond required, submit a sworn statement of the volume of mortgage business (including lending, brokering and servicing) conducted by the applicant in the previous twelve (12) months. Specifically state the following: • Whether the applicant has conducted a mortgage lending business at any time during the 36 months preceding the application; • The aggregate principal amount of mortgage loans secured or to be secured by property located in Maryland and applied for and accepted or mortgage loans secured or to be secured by property located in Maryland and applied for, procured, and accepted by the mortgage lender during the 12 months immediately preceding the month in which the application was filed; and • The aggregate principal amount of loans secured or to be secured by a dwelling or residential real estate located in states other than Maryland and applied for, procured, and accepted by the mortgage lender during the 12 months preceding the month in which the application was filed. This document should be named [Company Legal Name] [Year] Maryland Volume of Business Statement

    Submitted via: Upload in NMLS: under Surety Bond in the Document Uploads section of the Company Form (MU1).

20. Step 20

    Trust Account Authorization: Submit authorization allowing examination of trust accounts used for the purpose of holding funds belonging to others. May require multiple documents when more than one account exists. Upload each account authorization separately. This document should be named [License Type]; [Indicate State]; [last 5 digits of account number]. (eg. Debt Management, MD, xxxxx).

    Submitted via: Upload in NMLS: under the Document Type Warehouse Line of Credit Documentation in the Document Uploads section of the Company Form (MU1).

21. Step 21

    Legal Name/Status Documentation: Upload legal documentation of legal name or legal status. This may be certified copies of divorce decree, marriage certificate, copy of driver’s license, passports, etc. This document should be named [Document Name] (Ex. Driver’s License, Marriage Certificate, etc.).

    Submitted via: Upload in NMLS: under the Document Type Legal Name/Status Documentation in the Document Uploads section of the Individual Form (MU2).

22. Step 22

    Criminal Background Check Clarifications: If any negative criminal history is reported on an MU2 individual’s Federal criminal background check, an explanation must be provided in the Disclosure Explanations section of the Individual Form (MU2), and supporting documentation must be included. This documentation includes, but is not limited to, final dispositions, orders of expungement, and any other court documents. If the documents are unavailable, provide a letter from the court stating such.

    Submitted via: NMLS

23. Step 23

    Verification of Experience: A Qualifying Individual must upload a detailed resume documenting at least three years of experience in the mortgage lending business. For each position listed, resume must specifically state: job title, place of employment with full address, month and year employment began, month and year employment ended, and a description of duties and responsibilities in that position.

    Submitted via: Upload in NMLS: under the Document Type Verification of Experience in the Document Uploads section of the Individual Form (MU2).

24. Step 24

    Provide a list of the addresses of all branch offices or other additional locations as described in Md. Code Ann., Financial Institutions §11-507, in a form substantially similar to the "List of Locations Engaging in Maryland Business" found on the Office of Financial Regulation website.

    Submitted via: NMLS Upload in NMLS: under the Document Type Additional Requirements in the Document Uploads section of the Company Form (MU1).

General information

Other Maryland mortgage licenses

• Affiliated Insurance Producer-Mortgage Loan Originator License
• Mortgage Loan Originator License
• All 3 Maryland licenses

Sourced from the NMLS/CSBS state licensing record, last updated July 17, 2025. Requirements change — confirm against the state agency before filing. Not legal advice.