New Statutory Provisions Addressing Licensing of Affiliated Insurance Producer - Mortgage Loan Originators - Financial Regulation

August 17, 2026

The Maryland Office of Financial Regulation (OFR) issues this formal guidance to provide information on the recently enacted House Bill 38 (HB 38) and licensing requirements for affiliated insurance producer-mortgage loan originators (Affiliated Producers).

On May 12, 2026, Governor Wes Moore signed HB 38 into law, amending the requirements to qualify as an Affiliated Producer. Previously, an Affiliated Producer was defined as an individual who could only originate loans for a financial institution as defined in Maryland Financial Institutions Code §11-501 (financial Institution). The law has broadened the definition to include those who originate loans for either a financial institution or a mortgage lender.

Additionally, the definition expands the type of entity an Affiliated Producer may hold an appointment with in order to qualify. Now it includes Affiliated Producers with insurance companies that control, are controlled by, or under common control of a mortgage lender who is acting as a mortgage broker. With the change, either a financial institution or a mortgage lender can sponsor an Affiliated Producer so long as they are listed on the Affiliated Producer’s application and the Commissioner has approved them as a sponsor of Affiliated Producers.

Contact

For any questions regarding this advisory, please contact Assistant Commissioner Clifford Charland, by phone at 410-230-6167 or by email at [email protected].