Maryland’s secondary mortgage market has been in turmoil since a disruptive 2024 court decision held that a purchaser of mortgage loans inherits the original lender’s obligations—including the obligation to obtain a Maryland Mortgage Lender license. Secondary market investors that acquire residential mortgage loans through a passive trust can breathe a sigh of relief now that Maryland has enacted its legislative fix to address the court decision and related guidance by the Maryland Office of Financial Regulation. Please read our Legal Update on the latest developments in Maryland.
