Tag Archive: "Maryland"
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Maryland Modifies Provisions Regarding Personal Information Protection Act
Maryland has passed House Bill 1154 which modifies provisions of its Personal Information Protection Act.
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Maryland Amends its Real Property Article to Provide Protections to Impacted Government Employees during a Shutdown
Maryland has passed Senate Bill 512, an act relating to protections for government employees during a government shutdown. The provisions of SB 512 are effective immediately.
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Maryland Modifies Provisions Relating to Foreclosure and Licensing
Maryland modifies its foreclosed property registry and modifies the net worth requirements of certain licensees.
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Maryland Adopts Provisions Relating to Notary Public Fees
Maryland has amended its regulations relating to fees a notary public may charge for travel to perform notarial acts under COMAR 1.02.08.03(D).
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Maryland Modifies Financial Consumer Protection Act and Provisions Regarding Mortgage Brokers Finder’s Fee
Maryland has passed House Bill 1511 which modifies a certain provision of its regulations regarding mortgage brokers finder’s fees. Maryland has passed House Bill 1297 which makes wide ranging changes to its Financial Consumer Protection Act.
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Maryland Updates: Foreclosure Property Registry, Escrow Accounts for Utility Assessments, Uniform Electronic Recording Act, Consumer Protection
House Bill 848 amends provisions in its consumer protection statute regarding consumer reporting agencies. HB 848 allows a consumer to bring an action or proceeding against a consumer reporting agency. HB 848 also alters the method by which a consumer may place or remove a security freeze on his or her consumer report.
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Maryland Prescribes a Model Form for Expedited Foreclosure Proceedings for Vacant and Abandoned Properties
Effective November 6, 2017, the state of Maryland has amended regulation .08 under COMAR 09.03.12, Foreclosure Procedures for Residential Property.
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Maryland Aligns Terms with Federal Definitions and Clarifies MLO Requirements
Effective as of July 31, 2017, Maryland amended provisions to align state mortgage industry terminology with federal terminology and clarified provisions impacting mortgage lender originators (MLOs). The following topics were clarified by the amendments: continued education, duty of care, application, exemptions and advertising.
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Maryland Amends Requirements for Mortgage Lender Licensee and Loan Originator Numbers
Effective July 3, 2017, Maryland adopted amendments to change requirements for loan originators and mortgage lender licensee numbers.
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Maryland Substitutes Financing Agreement and Commitment Requirements
Effective July 1, 2017, Maryland repealed and reenacted with amendments an act affecting closed end credit loans in order to eliminate duplicative disclosures. In essence, the amendments streamline the loan process by substituting the financing agreement and commitment disclosures with the Loan Estimate and Closing Disclosures.