Maryland: updated requirements for mortgage loan assignees

The article discusses recent guidance from the Maryland Office of Financial Regulation expanding licensing requirements for assignees of residential mortgage loans, including passive trusts. This change stems from an April 2024 court ruling and aims to ensure compliance with consumer protection statutes. The new regulations require mortgage trusts to obtain licenses, even if they do not originate or service loans. Although enforcement is temporarily suspended until April 2025, affected entities are advised to audit portfolios and apply for licenses promptly.

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