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ARTICLE · 27 FEBRUARY 2025

Maryland Update On Licensing Guidance

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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...

United StatesFinance and Banking
Krista Cooley
Krista Cooley
Francis Doorley
Francis Doorley
Steven Kaplan
Steven Kaplan
Kristie D. Kully
Kristie D. Kully
Michael McElroy
Michael McElroy
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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 agency made important announcements this week. The OFR has worked with the industry to propose new legislation that would provide exemptions from licensing and updated its previous guidance to extend the enforcement deadline to give impacted entities more time to comply, depending on the outcome of the legislative efforts.

This week saw two positive developments in connection with the recently announced licensing requirements for assignees of residential mortgage loans and installment loans in Maryland. This Legal Update discusses both developments.

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This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.

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