Section 11-506.1 - Exemptions from license requirement; fingerprinting. - Maryland Statutes

§ 11-506.1. Exemptions from license requirement; fingerprinting.
 

(a)  Exemptions.- This section shall not apply to any corporation the securities of which are exempt from registration under § 11-601 (8) or (12) of the Corporations and Associations Article. 

(b)  Fingerprinting required.- In connection with an initial application and at any other time the Commissioner requests, each applicant or licensee shall provide fingerprints for use by the Criminal Justice Information System Central Repository of the Department of Public Safety and Correctional Services to conduct criminal history records checks. 

(c)  Information concerning identity of applicant.- In addition to the requirement under subsection (b) of this section, in connection with an initial application and at any other time the Commissioner requests, an applicant or licensee shall provide to the Nationwide Mortgage Licensing System and Registry information concerning the applicant's identity, including: 

(1) Fingerprints for submission to the Federal Bureau of Investigation, and any other governmental agency or entity authorized to receive this information for a state, national, or international criminal history background check; and 

(2) Personal history and experience in a form prescribed by the Nationwide Mortgage Licensing System and Registry, including the submission of authorization for the Nationwide Mortgage Licensing System and Registry and the Commissioner to obtain: 

(i) An independent credit report from a consumer reporting agency described in the federal Fair Credit Reporting Act, 15 U.S.C. § 1681a(p); and 

(ii) Information related to any administrative, civil, or criminal findings by any governmental jurisdiction. 

(d)  Power to request and distribute information.- To implement this subtitle, the Commissioner may use the Nationwide Mortgage Licensing System and Registry as a channeling agent to request information from and distribute information to the Department of Justice, any other governmental agency with subject matter jurisdiction, and any other state licensing entity that has loan originators registered with the Nationwide Mortgage Licensing System and Registry. 
 

[1997, ch. 588; 2009, ch. 4; ch. 60, § 5.]