Md. Code Regs. 09.03.09.02 - Loan Origination Under Expired License
A. In this chapter, the following terms have
the meanings indicated.
B. Terms
Defined.
(H)
(12) "NMLSR" has the
meaning stated in Financial Institutions Article, §
11-501,
Annotated Code of Maryland.
(1) "Applicant" means an individual
applying for a license.
(2)
"Average prime offer rate" has the meaning stated in 12 CFR Part 1026, as may
be amended from time to time.
(3)
"Commissioner" has the meaning stated in Financial Institutions Article, §
1-101,
Annotated Code of Maryland.
(4)
"Continuing education" or "course" means an educational program related to
mortgage lending or brokering which contributes directly to the enhancement of
professional competence of a mortgage loan originator to engage in the mortgage
lending business, as defined in Financial Institutions Article, §
11-501,
Annotated Code of Maryland.
(5)
"Dwelling" has the meaning stated in Financial Institutions Article, §
11-501,
Annotated Code of Maryland.
(6)
"Higher-priced mortgage loan" has the meaning stated in 12 CFR Part 1026 as may
be amended from time to time,
(7)
"License" has the meaning stated in Financial Institutions Article, §
11-601,
Annotated Code of Maryland.
(8)
"Licensee" has the meaning stated in Financial Institutions Article, §
11-601,
Annotated Code of Maryland.
(9)
"Mortgage lending business" has the meaning state in Financial Institutions
Article, §
11-501,
Annotated Code of Maryland.
(10)
"Mortgage loan" has the meaning stated in Financial Institutions Article,
§
11-501,
Annotated Code of Maryland.
(11)
"Mortgage loan originator" has the meaning stated in Financial Institutions
Article, §
11-601,
Annotated Code of Maryland.
(11)
"NMLSR" means the Nationwide Mortgage Licensing System and Registry established
by the Conference of State Bank Supervisors and the American Association of
Residential Mortgage Regulators.
(13)
"Residential real estate" has the meaning stated in Financial Institutions
Article, §
11-501,
Annotated Code of Maryland.
Notes
Regulation .02B amended as an emergency provision effective July 1, 2009 (36:15 Md. R. 1159); emergency status extended at 37:3 Md. R. 170; emergency status expired effective March 15, 2010
Regulation .02B amended effective March 15, 2010 (37:5 Md. R. 427); amended effective 44:15 Md. R. 759, eff.
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