Todd Bryant is a graduate of Germantown Academy and the University of Pittsburgh College of Business Administration Honors College.
He has been President of Bryant Surety Bonds, Inc., an A+ rated Business with the Better Business Bureau, since 2007. Licensed as a producer with the Department of Insurance, he has been published in the National Association of Surety Bond Producers newsletter and on numerous authoritative publications such as The Washington Post, Entrepreneur.com, Azcentral.com and many more.
Maryland does not require you to have prior experience as a loan officer to apply for a mortgage broker license. However, you will need to designate a Qualifying Individual who has at least three years of experience in the mortgage lending business. This doesn’t necessarily have to be you — it can be the proprietor, co-venturer, general partner, principal officer, or member of the business.
According to Maryland Financial Institutions Article, §11-506, an individual meets the requirement if they have:
– Closed at least 12 mortgage loans per year for each of the 3 years, OR
– Worked at least 20 hours per week in the mortgage lending industry for each of the 3 years
They must verify their experience by uploading a detailed resume that should include:
– Job title
– Employer name & full address
– Start and end dates (month/year format)
– Description of duties & responsibilities
Do i need to have experience as loan officer before i can apply for mortgage broker license?
Maryland does not require you to have prior experience as a loan officer to apply for a mortgage broker license. However, you will need to designate a Qualifying Individual who has at least three years of experience in the mortgage lending business. This doesn’t necessarily have to be you — it can be the proprietor, co-venturer, general partner, principal officer, or member of the business.
According to Maryland Financial Institutions Article, §11-506, an individual meets the requirement if they have:
– Closed at least 12 mortgage loans per year for each of the 3 years, OR
– Worked at least 20 hours per week in the mortgage lending industry for each of the 3 years
They must verify their experience by uploading a detailed resume that should include:
– Job title
– Employer name & full address
– Start and end dates (month/year format)
– Description of duties & responsibilities
If you’re looking for additional guidance, here’s a state-by-state licensing checklist by NMLS: https://mortgage.nationwidelicensingsystem.org/slr/SitePages/Checklist-Compiler.aspx
If you need further help navigating the licensing process or securing your bond, feel free to reach out.