Md. Code Regs. 09.03.09.08 - Loan Origination Under Expired License
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.
Notes
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.
No prior version found.