Md. Code Regs. 09.03.09.07

Current through Register Vol. 51, No. 22, November 1, 2024

Section 09.03.09.07 - Locations

A. A mortgage loan originator may not conduct mortgage lending business at any location different from the address that appears on the license or licenses of the mortgage loan originator's employer.

B. Notwithstanding §A of this regulation, a mortgage loan originator may take a loan application or offer or negotiate terms of a mortgage loan at a location other than the address that appears on the license or licenses of the mortgage loan originator's employer if neither the mortgage loan originator nor the mortgage loan originator's employer:

(1) Owns or leases the location for the purpose of conducting mortgage lending business;

(2) Indicates or suggests by use of signage that the mortgage loan originator or the mortgage loan originator's employer utilizes the location for taking mortgage loan applications or offering or negotiating terms of mortgage loans;

(3) Advertises that the mortgage loan originator or the mortgage loan originator's employer takes mortgage loan applications or offers or negotiates terms of mortgage loans at the location;

(4) Maintains work space, telephone service, or internet service at the location in the name of the mortgage loan originator or the mortgage loan originator's employer for the purpose of conducting mortgage lending business;

(5) Receives mail relating to the mortgage lending business at the location; or

(6) Stores books or records relating to the mortgage lending business at the location.

Md. Code Regs. 09.03.09.07

Regulation .07 adopted effective January 1, 2009 (35:26 Md. R. 2247)
Regulation .07 amended as an emergency provision effective July 1, 2009 (36:15 Md. R. 1159); emergency status extended at 37:3 Md. R. 170; emergency status expired effective March 15, 2010
Regulation .07C-1 adopted effective March 15, 2010 (37:5 Md. R. 427); amended effective 43:11 Md. R. 633, eff.7/1/2016; amended effective 44:15 Md. R. 759, eff. 7/31/2017