A Maryland originator applicant in 2026 works for a lender headquartered in Delaware. Assuming the employer holds the required Maryland lender license, what resident-agent condition applies to this out-of-state employer?
Correct Answer
C) A license may issue if the lender keeps a resident agent in the State
A license may be issued to an individual employed by a mortgage lender, or a person exempt from licensing, whose principal office is located outside the State if that employer maintains a resident agent within the State. Other choices: an in-state principal office is not required; a physical office is not the condition; and the resident agent condition is real. Source: Md. Fin. Inst. § 11-603(e)
Why This Is the Correct Answer
A license may be issued to an individual employed by a mortgage lender, or a person exempt from licensing, whose principal office is located outside the State if that employer maintains a resident agent within the State. Other choices: an in-state principal office is not required; a physical office is not the condition; and the resident agent condition is real. Source: Md. Fin. Inst. § 11-603(e)
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