Maine adopted rules increasing the initial licensing and renewal fees for mortgage loan originators licensed under the Secure and Fair Enforcement for Mortgage Licensing Act. Under the adopted rules, a mortgage loan originator must, at the time of application for initial licensing and at the time of renewal, pay an $80 application fee (formerly $20). In addition, the bill requires a mortgage loan originator to amend the mortgage loan originator’s information on file with the NMLS if any previously reported information changes during the period of licensure. The bill went into effect June 25, 2023.
Click to view the Maine RA 12479: https://www.tenaco.com/wp-content/uploads/2023/07/ME-RA-12479-06-25-23.pdf
