Shortly after Mayer Brown published an update on legislation introduced to exempt passive trusts and other assignees of certain Maryland loans from licensing, Governor Wes Moore signed the legislation into law. The Maryland...more
In a prior Legal Update, we discussed the introduction of legislation in the Maryland General Assembly that would amend Maryland law to address guidance issued by the Maryland Office of Financial Regulation (“OFR”). That...more
AT A GLANCE - In response to market concerns regarding licensing guidance for assignees of certain residential mortgage loans and installment loans released by the Maryland Office of Financial Regulation in January, that...more
On January 10, 2025, the Maryland Office of Financial Regulation (OFR) issued formal guidance asserting that assignees of residential mortgage loans—including certain “passive trusts” that acquire or obtain assignments of...more
1/22/2025
/ Financial Institutions ,
Financial Services Industry ,
Foreclosure ,
Licensing Rules ,
Maryland ,
Mortgage Lenders ,
Mortgages ,
Real Estate Transactions ,
Regulatory Requirements ,
Secondary Markets ,
State and Local Government ,
Trusts