1 Hour MD SAFE Continuing Education Course: Maryland Finder’s Fees & Advertising Compliance: #19066

Description

Maryland mortgage compliance centers on two primary considerations: the permissible charges a broker may impose and the representations a licensee may make to the public. Maryland addresses both issues through detailed statutes. The Maryland Finder’s Fee Law establishes clear caps and conditions on broker charges to borrowers, exceeding the regulatory requirements of many other states. Additionally, Maryland’s advertising rules strictly prohibit false, misleading, or deceptive statements regarding mortgage loans. These standards are actively enforced by the Office of the Commissioner of Financial Regulation and have been upheld by the courts.

This one-hour Maryland-specific elective is organized into two chapters, each anchored by a real-world case. Chapter 1 explores the Maryland Finder’s Fee Law and broker compensation, including an analysis of a Maryland Court of Appeals decision clarifying the law’s boundaries. Chapter 2 examines Maryland’s mortgage advertising and consumer-protection regulations, highlighting an enforcement action against a Maryland-based mortgage broker for deceptive advertising.

Contents

1. The Maryland Finder’s Fee Law and Broker Compensation
2. Mortgage Advertising and Consumer Protection in Maryland
3. Final Exam