Not all lenders are licensed to issue Maryland mortgages. While personnel of national banks and state-chartered banks are exempt from Maryland licensing requirements, loan originators of Maryland mortgage banks are required to meet state licensing requirements that include testing, continuing education, criminal background checks, surety bond requirements and minimum credit score requirements. Maryland mortgages and the lending institutions that issue Maryland mortgages are regulated by the Department of Labor, Licensing and Regulation.
If seeking out a Maryland mortgage make sure to do business with a state licensed mortgage bank because its personnel are the best trained and most highly scrutinized employees. In addition, local state-licensed lenders of Maryland mortgages often have great local relationships with Realtors and strong local market knowledge. If you’re specifically seeking out suburban Maryland mortgages and are seeking out licensed and knowledgeable mortgage banks please consider our branch whose loan officers are highly experienced, well connected and have met stringent state licensing requirements.