MD OFR Issues Guidance on AIP-MLO Licensing for Non-Bank Lenders

The Maryland Office of Financial Regulation (OFR) has issued formal guidance regarding HB 38’s expansion of the definition of affiliated insurance producer-mortgage loan originator (AIP-MLO) to include those who are licensed to originate mortgage loans for a non-bank mortgage lender that is affiliated with an appointing insurer.  The new guidance states that AIP-MLOs may originate for either an affiliated financial institution or an affiliated mortgage lender so long as the financial institution or mortgage lender is listed on the AIP-MLO’s application and the Commissioner has approved its sponsorship of the AIP-MLO.  WBK previously covered HB 38 here.