To ensure compliance with the federal S.A.F.E. Act and facilitate the shift to the Nationwide Mortgage Licensing System (NMLS), Maryland’s Department of Labor, Licensing and Regulation has modified its mortgage licensee regulations. It is moving both licensing renewals and education deadlines to an annual cycle as opposed to their previous biennial cycle.

The new renewal cycle will be based on a standard one-year license term, beginning January 1 and ending on December 31 of each year. During the transition to the NMLS, the following timetable will apply for mortgage originators who were licensed prior to January 1, 2009:

• For a renewal date falling between January 1, 2009 and September 20, 2009, the renewal term will expire on December 31, 2009
• For a renewal date falling between October 1, 2009 and September 30, 2010, the renewal term will expire on December 31, 2010
• For a renewal date falling between October 1, 2010 and December 31, 2010, the renewal term will expire December 31, 2011.

The amount of continuing education hours required remains at 20 hours for an individual with less than 10 years of experience and 6 hours for an individual with greater than 10 years of experience.