A Maryland licensee commits a 2026 violation and the Commissioner considers a civil penalty. What is the maximum initial civil penalty per violation under the mortgage lender subtitle?
Correct Answer
D) Up to $10,000 for each violation at that first stage
The Commissioner may enforce the subtitle by issuing an order to cease and desist and to take affirmative action to correct the violation, including restitution, and by imposing a civil penalty not exceeding $10,000 for each violation. Other choices: $25,000 is the second-stage figure; $2,500 is not in this statute; and the penalty does not wait on an ignored order. Source: Md. Fin. Inst. § 11-517(c)(1)(ii)
Why This Is the Correct Answer
The Commissioner may enforce the subtitle by issuing an order to cease and desist and to take affirmative action to correct the violation, including restitution, and by imposing a civil penalty not exceeding $10,000 for each violation. Other choices: $25,000 is the second-stage figure; $2,500 is not in this statute; and the penalty does not wait on an ignored order. Source: Md. Fin. Inst. § 11-517(c)(1)(ii)
More UST Questions
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