MD Rescinds Guidance Regarding Mortgage Licensing for Certain Trusts

The Maryland Office of Financial Regulation (OFR) recently sent a notice to industry stakeholders indicating that, effective immediately, it is rescinding its guidance, and all related advisories and enforcement deadlines, that extended Maryland’s mortgage licensing provisions to passive trusts and government trusts that acquire or are assigned mortgage loans.  WBK covered the OFR’s now-rescinded guidance here.  This comes after the recent passage of the Maryland Secondary Market Stability Act of 2025, covered by WBK here, which excludes those trusts from Maryland licensing requirements for installment loans and mortgages.

In this guidance, the OFR also withdraws its previous emergency and proposed regulations relating to licensure of these trusts.