Maryland legislation · 2026 Regular Session
Maryland HB38: Financial Institutions - Licensing of Affiliated Insurance Producer-Mortgage Loan Originators - Alterations
Status: Signed into law, May 12, 2026
Altering the licensing requirements for an affiliated insurance producer-mortgage loan originator; and requiring the Commissioner of Financial Regulation to approve a certain financial institution that meets certain criteria or certain mortgage lenders that meet certain criteria to sponsor an affiliated insurance producer-mortgage loan originator if the mortgage lender is in good standing with the Commissioner and any other regulator to which it is subject and is in material compliance with applicable state and federal law.
What the bill says
An act concerning Financial Institutions - Licensing of Affiliated Insurance Producer-Mortgage Loan Originators - Alteration Alterations FOR the purpose of altering the licensing requirements for an affiliated insurance producer-mortgage loan originator; requiring the Commissioner of Financial Regulation to approve a certain financial institution that meets certain criteria or certain mortgage lender lenders that meets meet certain criteria as to sponsor an affiliated insurance producer-mortgage loan originator under certain circumstances…
From the enrolled text, May 19, 2026:
AN ACT concerning Financial Institutions - Licensing of Affiliated Insurance Producer-Mortgage Loan Originators - Alteration Alterations FOR the purpose of altering the licensing requirements for an affiliated insurance producer-mortgage loan originator; requiring the Commissioner of Financial Regulation to approve a certain financial institution that meets certain criteria or certain mortgage lender lenders that meets meet certain criteria as to sponsor an affiliated insurance producer-mortgage loan originator under certain circumstances; and generally relating to licensing of affiliated insurance producer-mortgage loan originators. BY repealing and reenacting, with amendments, Article - Financial Institutions Section 11-603.1 and 11-619 Annotated Code of Maryland (2020 Replacement Volume and 2025 Supplement) SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, That the Laws of Maryland read as follows: Article - Financial Institutions 11-603.1. (a) In this section, "affiliated insurance producer-mortgage loan originator" means an individual who: (1) Originates mortgage loans only on behalf of MADE BY [a]: (I) A single financial institution that and [(ii)] 2. Approved by the Commissioner under subsection (b) of this section; OR (II) A SINGLE MORTGAGE LENDER AS DEFINED IN § 11-501 OF THIS TITLE THAT AND Ch. 512 2026 LAWS OF MARYLAND 2. APPROVED APPROVED BY THE COMMISSIONER UNDER SUBSECTION (C) OF THIS SECTION; (2) Is a licensed insurance producer in good standing under § 10-103 of the Insurance …