Maryland Mortgage Licensing
Mortgage Banker or Broker
Mortgage Lender License
Physical In-State Office Required: No
Qualifying Individual: Yes, owner or officer with 3 years mortgage experience (Verified by resume)
Minimum Net Worth: $25,000 (broker) to $250,000 depending on volume (Lender’s Only) – CPA Compiled
Surety Bond: $50,000 to $150,000 depending on loan volume.
Education/Experience: One owner/officer must have at least 3 years of mortgage experience
Comments: Owners of 25% or more of the company were previously exempt from loan originator licensing. This exemption was eliminated on 7/31/09.
License Cost Breakdown – Estimated fees not including Integrity Mortgage Licensing Service Fee:
$100 – Foreign Entity Fee
$125 – Registered Agent Fee
$500 to $1,500 – Surety Bond Fee (Depending on nationwide loan volume)
$1,200– Company License Fee
Regulated by:
Department of Labor, Licensing, and Regulation
500 North Calvert Street, Suite 402
Baltimore, MD 21202
Telephone: 410-230-6100
Reviewers:
Licensing Main Number | 410-230-6155
Director of Licensing | Juan Sempertegui | JSempertegui@dllr.state.md.us | 410-230-6102
Supervisor of Licensing | Keisha L. Whitehall Wolfe | kwhitehall@dllr.state.md.us | 410-230-6362
Fingerprint Card Requests | Chenyl Robinson | 410-230-6088
Arlene Williams | afwilliams@dllr.state.md.us | 410-230-6068
Brandy Emerick | bemerick@dllr.state.md.us | 410-230-6023
Betty McBride | bmcbride@dllr.state.md.us | 410-230-6150
Doretha Vassor | dvassor@dllr.state.md.us | 410-767-0284
Ms. Johnson | mjohnson@dllr.state.md.us | 410-230-6081
Ayanna Jackson-Daugherty | adaugherty@dllr.state.md.us | 410-767-0401
Ms. Daugherty | adaugherty@dllr.state.md.us | 410-767-0401
Betty Flint | bflint@dllr.state.md.us | 410-767-0269
George Walp | 410-767-0731
Fax: 410-333-0475 | 410-333-0554