As previously announced, Maryland regulations have been modified to permit licensees to disclose their NMLS Unique Identifiers on security instruments in lieu of their state licensing numbers (see http://blog.docutechcorp.com/compliance-news-maryland-changes-licensing-numbers-security-instruments). Previous to this change, state license numbers were required to be disclosed on these documents pursuant to Md. Code Ann., Real Prop. § 3-104.1 and Md. Code Regs. 09.03.06.07(D) (or, if certain entities were not licensed, then an affidavit could be provided in lieu of these, pursuant to Ibid. 09.03.06.07[D] & 09.03.11.02[B]), along with NMLS Unique Identifiers in accordance with 12 CFR § 1026.36(g)(2)(iv).
In order to streamline the information disclosed on our generic Maryland security instruments, we will be modifying the logic concerning when the license numbers appear (see http://blog.docutechcorp.com/document-changes-maryland-security-instruments-and-the-md-licensee-information-or-affidavit-cx13984) to also exclude them when the NMLS information for each entity is entered. Essentially, this means the following:
- The “Maryland Mortgage Lender Name” and “Maryland Mortgage Lender License Number” will not appear when:
- The lender is exempt from licensing and the “MD Licensee Information of Affidavit” (Cx13984) fields are populated; or
- The lender’s name and NMLS number are entered into the fields used to generate the NMLS information which appears below the signature lines.
- The “Maryland Mortgage Originator Name” and “Maryland Mortgage Originator License Number” will not appear when:
- The originator is exempt from licensing and the “MD Licensee Information of Affidavit” (Cx13984) fields are populated; or
- The originator’s name and NMLS number are entered into the fields used to generate the NMLS information which appears below the signature lines.
Our documents which will be changed are the following:
- MD Deed of Trust (Cx329)
- MD Deed of Trust Second (Cx487)
- HELOC Deed of Trust – MD (Cx3040)
- FHA MD Deed of Trust (Cx19378)
This change will take effect on July 15, 2017. If you have any questions or concerns about this change, please contact Client Support at 1.800.497.3584.