Course description:
This pre-licensing course for Maryland mortgage originators is approved by the Division of Financial Regulation and the MD Higher Education, consisting of “Ethics, RESPA, TILA, ECOA, Maryland Finders Fee Law, Maryland Law, Privacy & Security of Customer Records, Predatory Lending & Fraudulent Real Estate Practices, Vocabulary, Credit Reports & Scores, Anatomy of a Loan, The Mortgage Approval Process, The Appraisal Process & Report.” The course consists of 40 hours of classroom education, including a two-hour final exam administered in the classroom. For a copy of the MD Mortgage Originator Pre-licensing Program Catalog, please click here.

Completion Requirement:
Successful completion requires that the student achieve at a score of at least 70 % on quizzes and the class final exam; complete all 40-hours of instruction with no more than eight hours of absence, which must be made up within 60 days from the last day of class, and meet all financial obligations to the school. Students who miss more than eight hours of classroom instruction will be dismissed. Upon successful completion of the course a completion certificate will be awarded.

Program Cost:
The total cost of the program is $499.00 as follows: tuition $449.01, and registration of $49.99. Tuition includes any handouts and materials provided in class. It does not include separate exam prep courses or resource materials such as books and CDs, which may be made available by PDI at additional cost.

Payment:
Payment may be made by credit card, cashiers check or money order. Personal checks are not accepted. Company checks are accepted by prior arrangement only.

Final Exam, Makeup and Re-take:
A two-hour final exam will be given in class, followed by two hours of exam review. Passage of a state-wide qualifying examination is not required. Students who miss or fail the class final may make up/re-take it within 60 days of the last day of the pre-licensing class attended. The exam may be taken in one of PDI’s regularly scheduled makeup/re-take sessions, or, on a space-available basis, in another of PDI’s pre-licensing classes on the day the exam is given. Arrangements must be made with PDI, and payment made, not less than three working days in advance of the exam date if to be taken in another pre-licensing class.

A maximum of one re-take will be permitted. The fee to make up/re-take the final exam is $49.00. There will be no refund if you do not complete or fail to appear for an exam makeup/re-take in another scheduled pre-licensing class.

Exam Prep:
Students who fail the class final may prepare for the re-take by attending one of PDI’s regularly-scheduled exam prep classes. Ordinarily, these classes will be scheduled immediately before a final exam makeup/re-take. The fee for the prep class is $49.00, and is in addition to the exam makeup/re-take fee.

Making Up Missed Hours:
A maximum of eight missed hours may be made up by attending another mortgage originator pre-licensing class offered by PDI. Admission to the class will be on a space-available basis. Arrangements must be made with PDI not less than three working days in advance of the class session to be attended.

Refunds:
All fees will be fully refunded if the class is cancelled. If you withdraw from the class no later than seven calendar days before the first day of class, the tuition less the registration fee will be refunded. If you withdraw less than seven days before the first day of class, but before the tenth hour of instruction, the registration fee, late payment fee and 20% of the tuition will be forfeited. There will be no refund of any fees after the eighth hour of instruction. Notice of withdrawal must be given to us in writing. For a complete refund policy, please refer to our catalog.

Criminal Investigation Check, Fees and Other Application Requirements:
The Division of Financial Regulation (DFR) requires an applicant for a license to undergo a criminal history check which involves fingerprinting and which, according to DFR, may take 30 or more days to complete. DFR requires applicants to pay a non-refundable fee for the investigation of $100.00; pay a license fee of $300.00; $62 fingerprint; and provide to DFR a written statement from the applicant’s current or prospective employer, that the applicant has been approved for employment as a mortgage originator.

Job Placement:
THE PROFESSIONAL DEVELOPMENT INSTITUTE does not guaranteed job placement and job salaries, commissions or income. No effort will be made to facilitate a job search upon successful completion of the program.

Inclement Weather Policy:
For PDI’s inclement weather policy, please go to http://www.pditraining.net/AboutPDI/WeatherPolicy.cfm.

Maryland Office of Financial Regulation
Department of Labor, Licensing and Regulation
Commissioner of Financial Regulation
500 North Calvert Street, Suite 402, Baltimore, MD  21202
Hours of Operation: 8:30 a.m. to 5:00 p.m., 
Monday through Friday, excluding holidays.
Telephone Number: (410) 230-6100
Fax Numbers: (410) 333-3866 or (410) 333-0475
E-mail Address: finreg@dllr.state.md.us
http://www.dllr.state.md.us/finance/