Maryland State Licenses and Regulator Costs

Mortgage Lender License (Company)

  • NMLS Cost: $1,101

  • Additional Costs: $15 per credit report, $36.25 per criminal background check

  • Minimum net worth: varies based on loan volume from $25,000 to $250,000 (contact us for details)

  • Minimum Experience: at least one owner or officer must have at least three (3) years of experience in a mortgage company

  • Surety Bond: varies baed on loan volume and number of licensed locations from $50,000 to $750,000 (contact us for details)

Mortgage Lender Branch License (Branch)

  • NMLS Cost: $1,021

  • Additional Costs: $15.00 per credit report, $36.25 per criminal background check

  • Branch manager: must be designated

  • Surety Bond: each additional branch office requires an increase to the company's surety bond equivalent to the current bond amount; once applicant has five or more licensed branches a blanket surety bond of $750,000 can be used

Mortgage Loan Originator (Individual)

  • NMLS Cost: $256

  • Additional Costs: $15 per credit report, $36.25 per criminal background check

  • Education: Maryland requires three (3) hours of Maryland-specific pre-licensure education as part of your national education requirement

  • Affidavit: Maryland requires a signed affidavit (note: the NMLS website may not contain the latest form); the state also requires an affidavit from originators who are returning from inactive status (the NMLS website may not contain the latest form) - this form is typically needed when an MLO switches companies (contact us for assistance)

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Lynx Licensing charges a flat rate of $625 per state license, $120 per branch license, and $85 per individual license.

Located in Raleigh, North Carolina

ryan at lynxlicensing dot com

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