State Licensing and Education Regime

Posted By: BLPage

State Licensing and Education Regime - 09/02/09 03:34 PM

We are an FDIC-regulated bank in Virginia and have no branch in Maryland that accepts deposits. We do have a Maryland residential mortgage license that enables us to make residential mortgages in Maryland, however, none of our "mortgage loan originators" have a state license. The new federal registration process notwithstanding, are my Loan Officers subject to the state licensing and education regime until the federal registration goes into effect sometime next year?