What authority does the Commissioner have regarding Maryland licensees?

The authority of the Commissioner includes the ability to issue cease-and-desist orders in any jurisdiction. This power is critical in maintaining compliance and protecting consumers within the State of Maryland. When a licensee is found to be in violation of laws or regulations governing mortgage lending practices, the Commissioner can intervene by issuing such orders to halt any ongoing illegal or unethical activities. This mechanism serves as both a protective measure for consumers and a regulatory tool to ensure that licensees adhere to required lending standards.

In the context of the choices provided, oversight of loan applications is typically not within the direct authority of the Commissioner, as other entities may handle specific aspects of application processing. Modifying loan terms directly is not a function of the regulatory authority either; this is typically a part of the private transactions between lenders and borrowers. Conducting random audits of financial records may occur, but the explicit nature of issuing cease-and-desist orders represents a specific legal authority aimed at immediate intervention when necessary.