Maryland Enacts Law Exempting Passive Trusts from Mortgage and Installment Loan Licensing Requirements
By EsqSocial Corporation 28/04/25
In January 2025, the Maryland Office of Financial Regulation (the “OFR”) issued a guidance stating that assignees of residential mortgage loans, including certain passive trusts, were required to hold a Maryland mortgage lender license and, in certain circumstances, an installment loan license. In response to this, the Maryland House and Senate passed separate but identical bills known as the Maryland Secondary Market Stability Act of 2025 (the “Act”)....
By: Sheppard Mullin Richter & Hampton LLP