Online Self-Study - 5 Hour MD NMLS Pre-License Course #11178

Course Information:

This course will be available to you for three months from the date of purchase. You can login to your account at any time (24/7) to complete this course within those three months.

This 5 hour MD pre-license education course is required by the NMLS for obtaining a mortgage origination license in the state of Maryland under the Maryland Commissioner of Financial Regulation. 

This course is presented in an online self-study video course with supplementary literature and content. The course is made up of 2 chapters broken into 5 minute sections that require clicking to advance to the next slide and includes a handful of small quizzes. After completing the introduction to the course, each section will start with an average duration of 5 minutes per section. Each 5 minute section will be followed by an activity. These activities can be either short quizzes or case studies focusing on certain concepts.

At the end of each chapter, there is a chapter quiz with a final exam at the end of the course. Students must complete all presentations and activity sections, all quizzes and tests, and the final exam in order to receive credit for the course. After completing the course, students will receive a certificate of completion.

5 Hour MD Online Self-Study Outline

Chapter 1: Maryland Mortgage Originator Law Regulation

This chapter covers the Maryland Mortgage Originator Law and Regulations including sections on exemptions, application for licensure , pre-licensing education, written tests, investigation and approval of applications, continuing education and renewal, as well as violations and penalties, hearings, investigations and reports to the NMLS.

Chapter 2: Maryland Mortgage Lender Law and Regulation

This chapter covers the sections on definitions, exceptions to licensure, requirements for license, surety bonds, net worth requirements, investigations, term and renewal of licenses, books and records, reporting and disciplinary action procedures.

Chapter 3: Compliance with MD Law

This chapter covers the duty of care and responsibilities for mortgage lenders and mortgage loan originators, advertising and solicitations, financing agreements, agreements with borrowers, fees, closings, brokers, expedition, interest and usury...etc.

Chapter 4: MD Finder's Fee Law

This chapter covers the requirements of the Maryland Finder's Fee Act including prohibited relationships between brokers and lenders, fees that mortgage brokers are allowed to change, payment of finder's fees, refund of finder's fees, violations to the finder's fee act and circumstances where a broker cannot collect a finder's fee.

Final Exam & Completion Form

This 15 question final exam will assess your understanding of the course. After passing the final exam, complete the course completion form in order to receive credit. An optional end-of-course survey may be filled out as well to provide feedback to Mortgage Educators & Compliance.

Course Credit Submission

The NMLS requires that education providers report education credit hours within 7 calendar days. Mortgage Educators & Compliance generally reports education credits within 3-5 business days. If you do not see your education credits reflected within the 7 days, contact MEC Support. 

REFUND POLICY: If you have not yet started the course, you may receive a full refund within 24 hours of purchase, or a partial refund of 75% within 30 days of purchase. If the course has been accessed and started within our system, we cannot grant refunds.

NMLS Course Provider #1400062