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<section article="gfi" article_name="Financial Institutions" number="11-507" title_number="11" title_name="Consumer Credit" subtitle_number="5" subtitle_name="Maryland Mortgage Lender Law">
  <level label="a">
    <level label="1">
      <text>To apply for a license, an applicant shall:</text>
      <level label="i">
        <text>Complete, sign, and submit to the Commissioner an application made under oath in the form, and in accordance with the process, that the Commissioner requires; and</text>
      </level>
      <level label="ii">
        <text>Provide all information that the Commissioner requests.</text>
      </level>
    </level>
    <level label="2">
      <text>The application shall include:</text>
      <level label="i">
        <text>The applicant’s legal name and any trade name used by the applicant in accordance with § 2–121 of this article;</text>
      </level>
      <level label="ii">
        <text>The applicant’s principal executive office address;</text>
      </level>
      <level label="iii">
        <text>If the applicant is not an individual, the name and residence address of each control person;</text>
      </level>
      <level label="iv">
        <text>The address of each additional location, if any, that:</text>
        <level label="1">
          <text>The general public may reasonably view as a location that does business as a mortgage lender, including any location that investigates customer complaints or directly communicates with customers verbally, electronically, or in writing;</text>
        </level>
        <level label="2">
          <text>Houses any core operational infrastructure or technology systems;</text>
        </level>
        <level label="3">
          <text>Conducts any core management, information security and technology, risk and compliance, or finance functions; or</text>
        </level>
        <level label="4">
          <text>Is otherwise required to be listed in NMLS by regulation the Commissioner adopts under this subtitle; and</text>
        </level>
      </level>
      <level label="v">
        <text>Any other pertinent information that the Commissioner requires.</text>
      </level>
    </level>
    <level label="3">
      <text>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.</text>
    </level>
  </level>
  <level label="b">
    <text>The applicant shall pay to the Commissioner the following fees:</text>
    <level label="1">
      <text>A nonrefundable investigation fee set by the Commissioner; and</text>
    </level>
    <level label="2">
      <text>A nonrefundable license fee set by the Commissioner.</text>
    </level>
  </level>
  <level label="c">
    <text>In addition to the license fee required under subsection (b)(2) of this section, an applicant for an initial license shall pay to NMLS any fees that NMLS imposes in connection with the application.</text>
  </level>
  <level label="d">
    <text>In addition to any sanctions that may be imposed under this subtitle by the Commissioner, a nonrefundable surcharge of $500 shall be paid:</text>
    <level label="1">
      <text>With an application if the applicant has begun acting as a mortgage lender without a license; and</text>
    </level>
    <level label="2">
      <text>By a licensee if the licensee has acted as a mortgage lender at a location that is not a licensed location.</text>
    </level>
  </level>
  <level label="e">
    <text>A person who knowingly makes a false statement under oath on an application filed with the Commissioner under this section is guilty of perjury and on conviction is subject to the penalties of § 9–101 of the Criminal Law Article.</text>
  </level>
</section>
