Maryland HB38 alters licensing requirements for affiliated insurance producer-mortgage loan originators.
Maryland HB38 modifies the licensing process for affiliated insurance producer-mortgage loan originators. The bill requires these individuals to be sponsored by a financial institution or mortgage lender approved by the Commissioner. It mandates that these institutions or lenders supervise the originators and be held liable for their activities. The bill also outlines specific activities these originators are prohibited from engaging in, such as originating loans for institutions other than their sponsor. The changes take effect October 1, 2026.
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