Code of Maryland Regulations
Title 09 - MARYLAND DEPARTMENT OF LABOR
Subtitle 03 - COMMISSIONER OF FINANCIAL REGULATION
Chapter 09.03.09 - Mortgage Loan Originators
Section 09.03.09.08 - Loan Origination Under Expired License
Universal Citation: MD Code Reg 09.03.09.08
Current through Register Vol. 51, No. 19, September 20, 2024
A. A person may not take or receive a mortgage loan application or offer or negotiate the terms of a mortgage loan without a license.
B. Notwithstanding §A of this regulation, a mortgage loan originator operating under an expired license resulting from a failure to timely renew may offer or negotiate the terms of a mortgage loan if:
(1) The application for the mortgage loan was
taken or received before the deadline for renewal of the license; and
(2) The licensee's employer does not employ
any other mortgage loan originator licensed by the Commissioner.
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