Financial Institutions (GFI) — Title 11. Consumer Credit

In this section the following words have the meanings indicated.

“Examination” means an examination or investigation performed by the Commissioner, or the Commissioner’s designee, which is required or authorized under this article or Title 12 of the Commercial Law Article.

“Licensee” means a person licensed by the Commissioner under this title.

“Person” includes an individual, corporation, business trust, statutory trust, estate, partnership, association, two or more persons having a joint or common interest, or any other legal or commercial entity.

Subsection (b) of this section does not apply if the licensee physically produces all documentation deemed by the Commissioner to be necessary or appropriate to the examination within Maryland at a location designated by the Commissioner.

The production of documentation under this subsection, instead of an on-site examination, shall be made at the Commissioner’s sole discretion.

“Control person” means a person who has the power, directly or indirectly, to direct the management or policies of a licensee or license applicant, whether through ownership of securities, by contract, or otherwise.

“Control person” includes a person who:

The licensee’s legal name; and

Any trade name used by the licensee in accordance with § 2–121 of this article.

Make a loan; or

In any way use any advantage provided by the Maryland Consumer Loan Law.

Obtain and maintain a valid unique identifier issued by NMLS when an account is created with NMLS;

Transfer licensing information to NMLS; and

Pay to the Commissioner a license extension fee calculated in accordance with subsection (d)(5) of this section.

The Commissioner shall establish a time period that is not less than 2 months within which a licensee must transfer licensing information to NMLS.

The time period that the Commissioner establishes under this subsection shall begin on or after July 1, 2017.

At least 30 days before the transfer period begins, the Commissioner shall:

For each licensee that complies with subsection (c) of this section, the term of the licensee’s license shall extend to December 31 of the year in which the license otherwise would have expired.

The license extension fee required under subsection (c)(3) of this section is nonrefundable and, based on the annual license fee, shall be prorated to the number of days between the date the license otherwise would have expired and December 31 of the same year.

On or after July 1, 2017; or

If the Commissioner has not joined NMLS with respect to persons required to be licensed under this subtitle as of July 1, 2017, on or after the date that the Commissioner joins, as specified by the Commissioner by public notice.

The requirements under any federal law and Title 4, Subtitles 1 through 5 of the General Provisions Article regarding the privacy or confidentiality of information or material provided to NMLS, and any privilege arising under federal or state law, including the rules of any federal or state court with respect to that information or material, shall continue to apply to that information or material after the information or material has been disclosed to NMLS.

The information and material may be shared with all state and federal regulatory officials having oversight authority over persons required to be licensed under this subtitle, including the Financial Crimes Enforcement Network and the Office of Foreign Assets Control, and any successor to these agencies, without the loss of privilege or the loss of confidentiality protections provided by federal law or Title 4, Subtitles 1 through 5 of the General Provisions Article.

Disclosure under any federal or state law governing the disclosure to the public of information held by an officer or agency of the federal government or a state that has received the information or material; or

Subpoena, discovery, or admission into evidence, in any private civil litigation or administrative process, unless, with respect to any privilege held by NMLS, the person to whom the information or material pertains waives, in whole or in part, that privilege.

Credited to the Non–Depository Special Fund established under § 2–120 of this article; and

Used in accordance with § 2–120(d) of this article.

Receive any application for a loan or allow any note or contract for a loan to be signed at any place of business that is not a licensed location;

Conduct any business under the Maryland Consumer Loan Law under a name different from the licensed name; or

Evade the application of this section by any device, subterfuge, or pretense of any kind.

A licensee may solicit and accept an application for a loan:

Except as provided in item (3) of this subsection, the loan closing shall be conducted at:

A licensee may conduct the loan closing at another location at the written request of the borrower or the borrower’s designee to accommodate the borrower because of the borrower’s sickness.

Command the confidence of the public; and

Warrant the belief that the business will be operated lawfully, honestly, fairly, and efficiently.

To apply for a license, an applicant shall:

The application shall include:

An investigation fee of $100; and

A license fee of $850.

With the application, the applicant shall file a surety bond.

The bond shall run to the Commissioner, as obligee, for the benefit of:

The bond shall be:

The liability of the surety:

A claim against the bond may be filed with the surety by:

If the amount of claims against a bond exceeds the amount of the bond, the surety:

If the penal amount of a bond is reduced by payment of a claim or judgment, the licensee shall file a new or additional bond with the Commissioner.

A penalty imposed against a licensee under § 2–115(b) of this article may be collected and paid from the proceeds of a bond required under this subsection.

The amount of the surety bond under subsection (c) of this section shall be in an amount of not less than $50,000 and not more than $200,000, as determined by the Commissioner for each licensee.

In setting the amount of the surety bond, the Commissioner may consider:

If an applicant does not meet the requirements of this subtitle, the Commissioner shall:

The licensee’s legal name and any trade name used by the licensee in accordance with § 2–121 of this article;

The address of the licensee’s principal executive office; and

The address of each additional location, if any, where the licensee does business and that:

Begin on the date the license is issued; and

Expire on December 31 of the year:

Otherwise is entitled to be licensed;

Pays to the Commissioner a renewal fee of $850; and

Submits to the Commissioner a renewal application in the form, and in accordance with the process, that the Commissioner requires.

Each licensee shall conspicuously post, in 48 point or larger type, at each licensed location the following information:

Each licensee shall conspicuously display the following information on the licensee’s website, any software application accessible to the public and used to make loans under the Maryland Consumer Loan Law, and profile page within each social media platform the licensee uses:

The licensee provides to the Commissioner, through NMLS and in accordance with any regulations the Commissioner adopts, notice of the addition, deletion, or modification;

The addition, deletion, or modification of the location is recorded with the information associated with the licensee’s license in NMLS; and

The addition, deletion, or modification of the location otherwise complies with this subtitle.

Any licensee; or

Any other person who makes a loan or on whose behalf a loan is made, whether or not that person:

Shall be given access to any books, papers, records, safes, or vaults of the person under investigation; and

May examine under oath any person whose testimony the Commissioner requires.

Subject to the provisions of paragraph (2) of this subsection, when the Commissioner determines that a licensee or any other person is about to engage in an act or practice constituting an evasion or violation of the Maryland Consumer Loan Law or of any rule or regulation adopted under the Maryland Consumer Loan Law, and that immediate action against the licensee or person is in the public interest, the Commissioner may in the Commissioner’s discretion issue, without a prior hearing, a summary order directing the licensee or person to cease and desist from engaging in the act or practice.

A summary cease and desist order issued under paragraph (1) of this subsection shall give the licensee or person:

Violates any provision of the Maryland Consumer Loan Law; or

Knowingly and repeatedly violates any provision of the Maryland Consumer Debt Collection Act.

The Commissioner shall revoke the license of any licensee who is convicted twice of violating § 12-316 of the Commercial Law Article if the second violation occurs after the first conviction.

The Commissioner may not issue another license to any person whose license is revoked under this subsection.

Findings; and

A statement of all the facts on which the findings are based.

To the circuit court for the county in which the aggrieved person resides or did business; or

To the Circuit Court for Baltimore City.

Between relatives;

Between an employer and an employee;

Between a landlord and a tenant; or

Between a primary or secondary or nonprofit degree–granting postsecondary academic educational institution and a student or parents or guardian of that student, for tuition or other expenses of education at that institution.

A banking institution;

A national banking association;

A federal or State savings and loan association;

A federal or State credit union;

A licensee under Subtitle 2 of this title;

A seller of goods or services or both not engaged in:

A licensee under Subtitle 5 of this title engaged solely in a mortgage lending business as defined in that subtitle; or

An entity exempt from licensing as a mortgage lender under § 11–502(b)(3), (10), or (13) of this title.

“Buyer” means a person who buys or leases goods under an installment sale agreement, even though the person has entered into one or more renewal, extension, or refund agreements.

“Buyer” includes a prospective buyer.

“Collateral security” means any security interest in, encumbrance on, or pledge of property or goods that is given to secure performance of an obligation of a buyer or a surety for a buyer under an agreement.

“Collateral security” includes the undertaking of a surety for a buyer.

“Collateral security” does not include any goods or interest in goods that are the subject of an installment sale agreement.

“Control person” means a person who has the power, directly or indirectly, to direct the management or policies of a licensee or license applicant, whether through ownership of securities, by contract, or otherwise.

“Control person” includes a person who:

“Goods” means all tangible personal property that has a cash price of $25,000 or less.

“Goods” does not include money or things in action.

“Installment sale agreement” means a contract for the retail sale of consumer goods, negotiated or entered into in this State, under which:

“Installment sale agreement” includes:

“Installment sale agreement” does not include:

The licensee’s legal name; and

Any trade name used by the licensee in accordance with § 2–121 of this article.

An installment sale agreement made between other parties;

A retail credit account transaction, as defined in § 12–501 of the Commercial Law Article, made between other parties; or

A transaction that deals with home improvement, as defined in § 8–101 of the Business Regulation Article, made between other parties, if collateral security is required by and given to the contractor as a condition to the transaction.

“Surety” includes a guarantor.

“Surety” does not include a seller who sells, transfers, or assigns an agreement.

Credited to the Non–Depository Special Fund established under § 2–120 of this article; and

Used in accordance with § 2–120(d) of this article.

Obtain and maintain a valid unique identifier issued by NMLS when an account is created with NMLS;

Transfer licensing information to NMLS; and

Pay to the Commissioner a license extension fee calculated in accordance with subsection (e)(5) of this section.

The Commissioner shall establish a time period that is not less than 2 months within which a licensee must transfer licensing information to NMLS.

The time period that the Commissioner establishes under this subsection shall begin on or after July 1, 2017.

At least 30 days before the transfer period begins, the Commissioner shall:

For each licensee that complies with subsection (d) of this section, the term of the licensee’s license shall be extended to December 31 of the year in which the license otherwise would have expired.

The license extension fee required under subsection (d)(3) of this section is nonrefundable and, based on the annual license fee, shall be prorated to the number of days between the date the license otherwise would have expired and December 31 of the same year.

On or after July 1, 2017; or

If the Commissioner has not joined NMLS with respect to persons required to be licensed under this subtitle as of July 1, 2017, on or after the date that the Commissioner joins, as specified by the Commissioner by public notice.

To apply for a license, an applicant shall:

The application shall include:

An investigation fee of $100; and

A license fee of $125.

If the Commissioner denies an application, the Commissioner shall:

The licensee’s legal name and any trade name used by the licensee in accordance with § 2–121 of this article;

The address of the licensee’s principal executive office; and

The address of each additional location, if any, where the licensee does business and that:

Begin on the date the license is issued; and

Expire on December 31 of the year:

Otherwise is entitled to be licensed;

Pays to the Commissioner a renewal fee of $125; and

Submits to the Commissioner a renewal application in the form, and in accordance with the process, that the Commissioner requires.

Each licensee shall conspicuously post, in 48 point or larger type, at each licensed location the following information:

Each licensee shall conspicuously display the following information on the licensee’s website, any software application accessible to the public and used to engage in business as a sales finance company, and profile page within each social media platform the licensee uses:

The licensee provides to the Commissioner, through NMLS and in accordance with any regulations the Commissioner adopts, notice of the addition, deletion, or modification;

The addition, deletion, or modification of the location is recorded with the information associated with the licensee’s license in NMLS; and

The addition, deletion, or modification of the location otherwise complies with this subtitle.

The requirements under any federal law and Title 4, Subtitles 1 through 4 of the General Provisions Article regarding the privacy or confidentiality of information or material provided to NMLS and any privilege arising under federal or state law, including the rules of any federal or state court with respect to that information or material, shall continue to apply to that information or material after the information or material has been disclosed to NMLS.

The information and material may be shared with all state and federal regulatory officials having oversight authority over persons required to be licensed under this subtitle, including the Financial Crimes Enforcement Network and the Office of Foreign Assets Control, and any successor to these agencies, without the loss of privilege or the loss of confidentiality protections provided by federal law or Title 4, Subtitles 1 through 4 of the General Provisions Article.

Disclosure under any federal or state law governing the disclosure to the public of information held by an officer or agency of the federal government or a state that has received the information or material; or

Subpoena, discovery, or admission into evidence, in any private civil litigation or administrative process, unless, with respect to any privilege held by NMLS, the person to whom the information or material pertains waives, in whole or in part, that privilege.

If a buyer has reason to believe that any person has violated any provision of this subtitle or of any other law that regulates agreements, the buyer may file with the Commissioner a written complaint that states the details of the alleged violation.

On receipt of the written complaint, the Commissioner may inspect any books, records, letters, and contracts of any licensee, seller, or other person that relate to the complaint.

Hold a hearing on the complaint at a time and place in this State that are reasonably convenient to the parties involved;

Subpoena witnesses;

Take depositions of witnesses who reside outside of this State in the same manner as provided for depositions to be taken in civil actions in courts of record;

Pay witnesses the same fees and mileage for their attendance as provided for witnesses in civil actions in courts of record; and

Administer oaths.

If any person fails to comply with an order or subpoena of the Commissioner under this subtitle or to appear as a witness and testify concerning any matter about which the person may be interrogated under this subtitle, the Commissioner may file a petition for enforcement with the circuit court for any county.

On petition by the Commissioner, the court, if it finds it appropriate to do so, shall order the person to:

Violates any provision of this subtitle or of any other law that regulates agreements; or

Fails to comply with any demand or requirement that the Commissioner makes under this subtitle;

Approves or knows of that or similar acts or omissions; and

After giving approval or learning of the act or omission, keeps any benefit, proceeds, profit, or advantage resulting from the act or omission or otherwise ratifies the act or omission.

The conduct of hearings; and

The form of findings and orders.

The circuit court for the county where the licensee did or has applied to do business; or

The Circuit Court for Baltimore City.

“Conventional home mortgage loan” means any loan primarily for personal, family, or household use that is secured by a mortgage, deed of trust, or other equivalent consensual security interest on a dwelling or residential real estate on which a dwelling is constructed or intended to be constructed.

“Conventional home mortgage loan” includes a loan in which funds are advanced through a shared appreciation agreement.

“Conventional home mortgage loan” does not include a loan that is insured or guaranteed by the federal government.

“Dwelling” means a residential structure or mobile home that contains one to four family housing units or individual units of condominiums or cooperatives.

“Dwelling” does not include a residential structure or mobile home unless the residential structure or mobile home, or at least one unit contained in the residential structure or mobile home, is owner–occupied.

“Independent evidence of commercial purpose” means, where a mortgage loan is made for a commercial purpose to an individual, any and all documentation by which the mortgage lender, prior to the making or procurement of the loan, establishes that the borrower is seeking funds for a legitimate commercial enterprise.

“Independent evidence of commercial purpose” does not include an affidavit of the borrower without supporting evidence, except where:

A confessed judgment note or consent judgment required or obtained by any person acting as a mortgage lender for the purpose of acquiring a lien on a dwelling or residential real estate;

A sale and leaseback required or obtained by any person acting as a mortgage lender for the purpose of creating a lien on a dwelling or residential real estate;

A mortgage, deed of trust or lien other than a judgment lien, on a dwelling or residential real estate; and

Any other security interest that has the effect of creating a lien on a dwelling or residential real estate in Maryland.

The licensee’s legal name; and

Any trade name used by the licensee in accordance with § 2–121 of this article.

“Loan application” means any oral or written request for an extension of credit that is made in accordance with procedures established by a mortgage lender for the purpose of inducing the lender to seek to procure or make a mortgage loan.

“Loan application” does not include the use of an account or line of credit to obtain a loan within a previously established credit limit.

Transportable in one or more sections;

Eight or more body feet in width and 30 or more body feet in length;

Built on a permanent chassis; and

Permanently attached to land or connected to utility, water, or sewage facilities.

For a fee or other valuable consideration, whether received directly or indirectly, aids or assists a borrower in obtaining a mortgage loan; and

Is not named as a lender in the agreement, note, deed of trust, or other evidence of the indebtedness.

“Mortgage lender” means any person who:

“Mortgage lender” does not include:

“Mortgage lending business” means the activities set forth in the definition of “mortgage lender” in subsection (k) of this section which require that person to be licensed under this subtitle.

“Mortgage lending business” includes the making or procuring of mortgage loans secured by a dwelling or residential real estate located outside Maryland.

“Mortgage loan” means any loan primarily for personal, family, or household use that is secured by a mortgage, deed of trust, or other equivalent consensual security interest on a dwelling or residential real estate on which a dwelling is constructed or intended to be constructed.

“Mortgage loan” includes a loan in which funds are advanced through a shared appreciation agreement.

Engages in whole or in part in the business of servicing mortgage loans for others; or

Collects or otherwise receives payments on mortgage loans directly from borrowers for distribution to any other person.

Acquires or is assigned mortgage loans in whole or in part;

Does not make mortgage loans;

Is not a mortgage broker or a mortgage servicer; and

Is not engaged in the servicing of mortgage loans, which does not include the act of transmitting or directing payments received by a mortgage servicer.

The transfer of ownership;

A repayment maturity date;

The death of the consumer; or

Any other event contemplated by the writing.

Any bank, trust company, savings bank, savings and loan association, or credit union incorporated or chartered under the laws of this State or the United States or any other–state bank having a branch in this State;

Any insurance company authorized to do business in the State;

Any corporate instrumentality of the Government of the United States including:

Any person who takes back a deferred purchase money mortgage in connection with the sale of:

A nonprofit charitable organization registered with the Maryland Secretary of State or a nonprofit religious organization;

An employer making a mortgage loan to an employee;

A person making a mortgage loan to a borrower who is the person’s spouse, child, child’s spouse, parent, sibling, grandparent, grandchild, or grandchild’s spouse;

A real estate broker who:

A home improvement contractor licensed under the Maryland Home Improvement Law who assigns a mortgage loan without recourse within 30 days after completion of the contract to a person licensed under this subtitle or to an institution that is exempt from this subtitle under item (1), (2), or (10) of this subsection;

A subsidiary or affiliate of an institution described in subsection (c) of this section, which subsidiary or affiliate:

Any employee benefit plan qualified under Internal Revenue Code § 401 or persons acting as fiduciaries with respect to such a plan, making mortgage loans solely to plan participants from plan assets;

Employees acting within the scope of their employment with:

A passive trust.

Any bank, trust company, savings bank, savings and loan association, or credit union incorporated or chartered under the laws of this State; or

Any other–state bank, as that term is defined in § 5–1001 of this article, having a branch that accepts deposits in this State.

Credited to the Non–Depository Special Fund established under § 2–120 of this article; and

Used in accordance with § 2–120(d) of this article.

A licensee may not allow any note, or loan contract, mortgage, or evidence of indebtedness secured by a secondary mortgage or deed of trust on a dwelling or residential real estate to be signed or executed at any place other than a licensed location, except at the office of:

Notwithstanding paragraph (1) of this subsection, a licensee may conduct the loan closing at another location at the written request of the borrower or the borrower’s designee to accommodate the borrower because of the borrower’s sickness.

The Commissioner shall adopt regulations to ensure that the loan application process is conducted fairly and in a manner consistent with the best interests of both the borrower and mortgage lender.

The business entity maintains any office within the State; or

The activities of the business entity constitute doing business or having a tax situs in the State under the applicable provisions of the Corporations and Associations Article.

The licensee’s legal name and any trade name used by the licensee in accordance with § 2–121 of this article;

The address of the licensee’s principal executive office; and

The address of each additional location, if any, where the licensee does business and that:

Under any name other than a licensed name; or

Except as provided in subsection (c) of this section or as otherwise authorized by the Commissioner through regulation, at a location other than a licensed location.

Engage in business as a mortgage lender;

Warrant the belief that the business will be conducted lawfully, honestly, fairly, and efficiently; and

Command the confidence of the public.

To qualify for a license, the applicant shall satisfy the Commissioner that the applicant has at least 3 years of experience in the mortgage lending business.

If the applicant is a sole proprietor, the applicant shall have the required experience.

If the applicant is a joint venture, or general or limited partnership, at least one of the coventurers or general partners shall have the required experience.

If the applicant is a business entity of any other kind, type, or classification, at least one of the principal officers or members shall have the required experience.

Except as provided in paragraph (2) of this subsection, the Commissioner may deny an application for a license to any person who has been officially reprimanded or has committed any act that would be a ground for suspension or revocation of a license under this subtitle.

The Commissioner shall deny an application for a license filed by:

Fingerprints for submission to the Federal Bureau of Investigation, and any other governmental agency or entity authorized to receive this information, for a state, national, or international criminal history background check; and

Personal history and experience in a form prescribed by NMLS, including the submission of authorization for NMLS and the Commissioner to obtain:

An acknowledged receipt of the application for a criminal history records check or criminal history background check of the applicant or licensee.

To apply for a license, an applicant shall:

The application shall include:

The applicant shall comply with all conditions and provisions of the application for licensure and be issued a license before acting as a mortgage lender.

A nonrefundable investigation fee set by the Commissioner; and

A nonrefundable license fee set by the Commissioner.

With an application if the applicant has begun acting as a mortgage lender without a license; and

By a licensee if the licensee has acted as a mortgage lender at a location that is not a licensed location.

The bond shall run to the Commissioner, as obligee, for the benefit of:

The bond shall be:

The liability of the surety:

A claim against the bond may be filed with the surety by:

If the amount of claims against a bond exceeds the amount of the bond, the surety:

If the penal amount of a bond is reduced by payment of a claim or judgment, the licensee shall file a new or additional bond with the Commissioner.

A penalty imposed against a licensee under § 2–115(b) of this article or § 11–517(c) of this subtitle may be collected and paid from the proceeds of a bond required under this section.

The amount of the surety bond under subsection (b) of this section shall be in an amount of not less than $50,000 and not more than $750,000, as determined by the Commissioner for each licensee.

In setting the amount of the surety bond, the Commissioner may consider:

The Commissioner may adopt regulations reasonably necessary to assure that the proper surety bond amount established by this section is maintained by each licensee throughout each licensing term.

The regulations may provide for periodic reporting, recalculation, and enforcement of required bond amounts.

Reduce the bond or the deposit in lieu of a bond to cash; and

Use the cash to defray the costs associated with the receivership.

In the case of an applicant that applies to act as a mortgage broker or a licensee that acts as a mortgage broker, in the amount of $25,000;

In the case of an applicant that applies to act as a mortgage loan servicer that operates as an approved servicer for a government–sponsored enterprise (GSE) or a licensee that acts as a mortgage servicer and operates as an approved servicer for a GSE, in the largest amount required of the applicant or licensee by the standards of the GSE;

In the case of an applicant that applies to act as a mortgage servicer that does not operate as an approved servicer for a GSE or a licensee that acts as a mortgage servicer that does not operate as an approved servicer for a GSE:

In the case of an applicant that applies to lend money secured by a dwelling or residential real estate or a licensee that lends money secured by a dwelling or residential real estate, in the amount of:

Subject to paragraphs (2), (3), and (4) of this subsection, the minimum net worth requirements under subsection (a) of this section may be satisfied by the applicant or licensee having:

If cash is used toward satisfying the minimum net worth requirements under subsection (a) of this section, the applicant or licensee shall submit to the Commissioner a bank letter verifying:

Immediately notify the applicant in writing of this fact;

Return the bond filed under § 11-508 of this subtitle;

Refund the license fee; and

Keep the investigation fee.

File in the Commissioner’s office a written decision containing the findings and conclusions on which the denial was based;

Send a copy of the decision to the applicant; and

Advise the applicant by certified mail of the applicant’s right to a hearing to be held in accordance with the Administrative Procedure Act.

An applicant who seeks a hearing on a license application denial shall file a written request for a hearing within 45 days following receipt of the advice to the applicant of the applicant’s right to a hearing.

A hearing date established in response to the filing of a notice under this subsection may be postponed only once for a period of up to 30 days after the initial hearing date.

Begin on the day the license is issued; and

Expire on December 31 of the year:

Otherwise is entitled to be licensed;

Pays to the Commissioner a nonrefundable renewal fee set by the Commissioner; and

Submits to the Commissioner:

Be for a period of 1 year;

Begin on January 1 of each year after the initial term; and

Expire on December 31 of the year the renewal term begins.

The licensee provides to the Commissioner, through NMLS and in accordance with any regulations the Commissioner adopts, notice of the addition, deletion, or modification;

The addition, deletion, or modification of the location is recorded with the information associated with the licensee’s license in NMLS; and

The addition, deletion, or modification of the location otherwise complies with this subtitle.

A licensee may not undergo a change in control unless the licensee:

For purposes of this subsection:

Within 60 days after receiving a request for approval of a proposed change in control, the Commissioner may require the licensee to provide any information deemed necessary to determine whether a new application is required because of the proposed change in control.

The Commissioner shall approve or deny a request for approval of a proposed change in control:

If the Commissioner does not approve or deny a request for approval of a proposed change in control as provided under paragraph (4) of this subsection, the request shall be deemed approved.

For each such failure pay to the Commissioner a surcharge in the amount of $500; and

For a licensee who fails to provide in a timely manner the notice required under subsection (c)(1) of this section, file with the Commissioner an application for a new license, together with all applicable application and investigation fees.

The licensee’s unique identifier; and

A statement advising consumers of the availability of the NMLS Consumer Access website to verify the licensing status of the licensee.

The licensee’s unique identifier; and

A link to the NMLS Consumer Access website.

This subtitle;

Any rule or regulation adopted under this subtitle; and

Any other provision regulating the application, making, brokering, or servicing of mortgage loans under Titles 12 through 14 of the Commercial Law Article.

Makes the books and records available to the Commissioner at the licensee’s licensed location within 5 business days after the Commissioner’s official request; and

Retains the records for at least 61 months in a storage facility disclosed to the Commissioner.

The Commissioner shall examine the business of each licensee:

The schedule established by the Commissioner under paragraph (1)(i) of this subsection shall:

Any person aggrieved by the conduct of a licensee under this subtitle in connection with a mortgage loan may file a written complaint with the Commissioner who shall investigate the complaint.

The Commissioner may make any other investigation of any person if the Commissioner has reasonable cause to believe that the person has violated any provision of this subtitle, of any regulation adopted under this subtitle, or of any other law regulating mortgage loan lending in the State.

An examination required under subsection (a)(1) of this section; and

Any other examination or investigation conducted under this section that the Commissioner reasonably considers necessary.

Examine the books and records of any licensee or of any other person who the Commissioner believes has violated any provision of this subtitle, or any rule or regulation adopted under this subtitle, or of any other law regulating mortgage loan lending in the State;

Subpoena documents or other evidence; and

Summon and examine under oath any person whose testimony the Commissioner requires.

If any person fails to comply with a subpoena or summons of the Commissioner under this subtitle or to testify concerning any matter about which the person may be interrogated under this subtitle, the Commissioner may file a petition for enforcement with the circuit court for any county.

On petition by the Commissioner, the court may order the person to attend and testify or produce evidence.

Stop doing business at any place in which the other business is conducted or solicited; or

Stop doing business in association or conjunction with the other business.

Makes any material misstatement in an application for a license;

Is convicted under the laws of the United States or of any state of:

In connection with any mortgage loan or loan application transaction:

Violates any provision of this subtitle or any rule or regulation adopted under it or any other law regulating mortgage loan lending in the State; or

Otherwise demonstrates unworthiness, bad faith, dishonesty, or any other quality that indicates that the business of the licensee has not been or will not be conducted honestly, fairly, equitably, and efficiently.

The nature of the crime;

The relationship of the crime to the activities authorized by the license;

With respect to a felony, the relevance of the conviction to the fitness and qualification of the licensee to engage in the mortgage lending business;

The length of time since the conviction; and

The behavior and activities of the licensee since the conviction.

The Commissioner may enforce the provisions of this subtitle, regulations adopted under § 11–503 of this subtitle, and the applicable provisions of Title 12 of the Commercial Law Article by:

If a violator fails to comply with an order issued under paragraph (1)(i) of this subsection, the Commissioner may impose a civil penalty not exceeding $25,000 for each violation from which the violator failed to cease and desist or for which the violator failed to take affirmative action to correct.

The seriousness of the violation;

The good faith of the violator;

The violator’s history of previous violations;

The deleterious effect of the violation on the public and mortgage industry;

The assets of the violator; and

Any other factors relevant to the determination of the financial penalty.