Following information can be helpful in applying for a Maryland state Mortgage Broker License:

• Submit a complete, signed and accurate application along with the stipulated application fee to the Department for consideration.
• All applicants are required to submit a current (12 month) business credit report. If a business credit report is not available, or if the business is a new entity, a current personal credit report(s) needs to be provided for the President and any stockholder who owns or controls 10% or more of the Corporation or LLC.
• A current (within the last 12 months) reviewed or audited financial statement by public accounting firm or CPA, including assets, liabilities, net worth, and income must also be submitted.
• A surety bond ranging from $15,000 to $75,000 is to be filed with the department.
• A certificate of Good Standing issued by a state authority is required.
• The applicant must have at least three years of business experience. A valid proof of experience must be submitted along with the application.
• Electronic applications and other forms can be obtained at Mortgage Lender Electronic Licensing - Commissioner of Financial Regulation.
• In order to renew a license each covered employee of a licensee shall successfully complete in the licensing period immediately preceding the current renewal period at least 20 hours of continuing education in approved courses. For more information on continuing education requirements and a list of approved courses, visit Mortgage Lenders Continuing Education - Commissioner of Financial Regulation.
  
  All "covered" employees are defined as the manager of each branch office maintained by a licensee and all employees who have the authority to accept loan applications, and as part of their official duties, directly contact borrowers to negotiate or advise regarding loan terms must satisfy the continuing education requirements during each licensing period.
  
  "Covered" employee does not include an employee who has been employed by the licensee for less than six months before the expiration of the licensee's current license, and has no prior experience as a covered employee with any other licensee.

For more information, visit the Maryland Commissioner of Financial Regulation website.