A person wants to act as a mortgage lender in Maryland in 2026 without holding a license. Under what condition may the person act without a Maryland mortgage lender license?
Correct Answer
A) Only if the person is exempted from licensing under the subtitle
A person may not act as a mortgage lender unless the person is a licensee or a person exempted from licensing under the subtitle. Other choices: no small-volume allowance appears in that section; lending own funds does not itself exempt anyone; and the exemption route means the bar is not absolute. Source: Md. Fin. Inst. § 11-504
Why This Is the Correct Answer
A person may not act as a mortgage lender unless the person is a licensee or a person exempted from licensing under the subtitle. Other choices: no small-volume allowance appears in that section; lending own funds does not itself exempt anyone; and the exemption route means the bar is not absolute. Source: Md. Fin. Inst. § 11-504
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