{"data":{"id":"us-md/md.-code-financial-institutions-11-605","jurisdiction":"us-md","citation":"Md. Code, Financial Institutions § 11–605","heading":"","body":"(a) The Commissioner may not issue a mortgage loan originator license unless the Commissioner makes, at a minimum, the following findings:\n(1) The applicant has never had a mortgage loan originator license revoked in any governmental jurisdiction;\n(2) The applicant has not been convicted of, or pled guilty or nolo contendere to, a felony in a domestic, foreign, or military court:\n(i) During the 7–year period immediately preceding the date of the application for licensing; or\n(ii) At any time preceding the date of application, if the felony involved an act of fraud, dishonesty, a breach of trust, or money laundering;\n(3) The applicant has demonstrated financial responsibility, character, and general fitness sufficient to command the confidence of the community and to warrant a determination that the mortgage loan originator will operate honestly, fairly, and efficiently;\n(4) The applicant has completed the prelicensing education requirement under § 11–606 of this subtitle and any prelicensing education requirements established by the Commissioner by regulation;\n(5) The applicant has passed a test that meets the requirements established under § 11–606.1 of this subtitle and any prelicensing testing requirements established by the Commissioner by regulation; and\n(6) The applicant has met the surety bond requirement under § 11–619 of this subtitle.\n(b) A conviction for which a pardon has been granted is not a conviction for purposes of subsection (a)(2) of this section.\n(c) A determination that an individual does not meet the requirements for financial responsibility under subsection (a)(3) of this section may not be based solely on:\n(1) Debts arising from medical expenses, including judgments;\n(2) Except for delinquent child support payments, debts, including judgments, arising from divorce proceedings or divorce settlements;\n(3) Foreclosures on the applicant’s principal residence;\n(4) The applicant’s credit score as reported by any consumer reporting agency, as defined in 15 U.S.C. § 1681a; or\n(5) The applicant’s involvement in a bankruptcy proceeding under Title 11 of the United States Code.","path":["Article - Financial Institutions"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi\u0026section=11-605","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:27Z","sha256":"6ab6c8aa63540e759e64ee8d7940b2e6ef10a982d2adf26737f12c247e970251","source_id":"us-md","stale":false,"prev":"us-md/md.-code-financial-institutions-11-604","next":"us-md/md.-code-financial-institutions-11-606"},"notice":"GroundRules: Original legal text. Not legal advice."}