News & Analysis as of May 31, 2025

Trusts

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The term "mortgage" typically refers to a mortgage loan. A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +

Certainty and Uncertainty, May 2025 - Passive Trusts in Maryland — Progress Regarding the Emergency Regulations

Cadwalader, Wickersham & Taft LLP on 5/19/2025

As we reported previously, the Maryland Office of Financial Regulation (“OFR”) issued emergency regulations this past January which indicated that passive trusts holding residential mortgage loans, even those used as part of...more

Maryland Enacts Law Exempting Passive Trusts from Mortgage and Installment Loan Licensing Requirements

Sheppard Mullin Richter & Hampton LLP on 4/28/2025

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...more

Update on Maryland Mortgage Licensing Guidance: Governor Moore Signs Law Exempting Passive Trusts

Mayer Brown on 4/25/2025

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

Governor Moore Signs Legislation Exempting ‘Passive Trusts’ from Licensure in Maryland

Alston & Bird on 4/25/2025

Our Financial Services Group reviews the Maryland Secondary Market Stability Act, which overrides the Office of Financial Regulation’s requirement that passive trusts holding Maryland loans in residential mortgage-backed...more

Governor Moore Signs Legislation Exempting “Passive Trusts” from Licensure in Maryland

Alston & Bird on 4/24/2025

In a highly anticipated and welcome development, on April 22, 2025, Maryland Governor Wes Moore signed into law the Maryland Secondary Market Stability Act of 2025 (emergency measures HB 1516 and its companion SB 1026) with...more

Update on Maryland Licensing Guidance: A “Fix” In The Works?

Mayer Brown on 4/22/2025

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

Maryland Emergency Regulations

Cadwalader, Wickersham & Taft LLP on 1/23/2025

On January 10, 2025, the Maryland Office of Financial Regulation issued emergency regulations revised to clarify that “passive trusts” holding residential mortgage loans must obtain a Mortgage Lender License and if the trusts...more

Maryland Guidance Applies Licensing Requirements to Assignees of Residential Mortgage Loans

Mayer Brown on 1/22/2025

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

Maryland Secondary Market Imperiled by Sweeping Regulatory Change Requiring Licensure for All Assignees of Mortgage Loans

Alston & Bird on 1/17/2025

What Happened? A development with far-reaching consequences for the secondary market, on January 10, 2025, the Maryland Office of Financial Regulation (“OFR”) issued guidance that requires mortgage trusts and their assignees...more

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