Mortgages

State (Maryland)
Maryland 2017 Regular Session

Residential Property - Foreclosure Timelines and Procedures [SB-936] [Real Estate ] [Housing ] [Finance ] [Consumer Protection ]
Altering requirements for a specified final loss mitigation affidavit; altering the timeline for filing an action to foreclose a mortgage or deed of trust on residential property; requiring a specified notice of intent to foreclose to be accompanied by a loss mitigation application for specific loss mitigation programs that are applicable to a specified loan; requiring an order to docket or a complaint to foreclose a mortgage or deed of trust on residential property to include a specified affidavit; etc.

  

Sponsored by: Sen. William C. Smith Hearing 2/28 At 1:00 P.m. on 02/28/2017

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State (Maryland)
Maryland 2017 Regular Session

Maryland Commercial Receivership Act [SB-895] [Finance ] [Real Estate ] [Law Enforcement ]
Authorizing a court to appoint a receiver under specified circumstances; providing that a specified mortgagee is entitled to the appointment of a receiver; requiring a court to appoint a receiver under specified circumstances; authorizing a court to condition the appointment of a receiver on the giving of a specified security under specified circumstances; authorizing a court to appoint a specified person as an ancillary receiver for specified property; etc.

  

Sponsored by: Sen. Brian J. Feldman Unfavorable Report By Finance; Withdrawn on 03/23/2017

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State (Maryland)
Maryland 2017 Regular Session

Commissioner of Financial Regulation and State Collection Agency Licensing Board - Surety Bond Requirements for Licensees and Registrants [SB-924] [Finance ] [Consumer Protection ] [Insurance ]
Altering and establishing specified surety bond requirements for specified persons licensed or registered by the Commissioner of Financial Regulation and specified persons licensed by the State Collection Agency Licensing Board; requiring a specified applicant for a new license to file, with the application, a surety bond with the Board; requiring the bond to run to the Board, as obligee, for the benefit of the State and specified persons; etc.

  

Sponsored by: Sen. Andrew A Serafini Approved By The Governor - Chapter 479 on 05/04/2017

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State (Maryland)
Maryland 2017 Regular Session

Real Property - Residential Foreclosures - Filing Fees [SB-588] [Real Estate ] [Housing ] [Finance ] [Property Tax ]
Increasing, from $300 to $500, the filing fee that must accompany an order to docket or a complaint to foreclose a mortgage or deed of trust on residential property and that is distributed to the Housing Counseling and Foreclosure Mediation Fund.

  

Sponsored by: Sen. Nathaniel J McFadden Unfavorable Report By Judicial Proceedings on 03/06/2017

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State (Maryland)
Maryland 2017 Regular Session

Residential Property - Vacant and Abandoned Property - Expedited Foreclosure [HB-702] [Real Estate ] [Housing ] [Property Tax ] [Law Enforcement ] [Consumer Protection ]
Authorizing a secured party to petition a circuit court for leave to immediately commence an action to foreclose a mortgage or deed of trust on residential property if the property is vacant and abandoned under specified circumstances; requiring a secured party to send a copy of a specified petition to specified persons under specified circumstances; requiring a court to rule on a specified petition promptly after the petition is filed; applying the Act prospectively; etc.

  

Sponsored by: Rep. Kumar P Barve Hearing 2/14 At 1:00 P.m. on 02/14/2018

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State (Maryland)
Maryland 2017 Regular Session

Real Property - Vacant and Abandoned Property - Expedited Foreclosure [HB-607] [Real Estate ] [Housing ] [Property Tax ] [Community Development ] [Construction ] [Law Enforcement ] [Public Safety ]
Authorizing a secured party to petition the circuit court for leave to immediately commence an action to foreclose the mortgage or deed of trust on specified vacant and abandoned property; authorizing a county, municipal corporation, homeowners association, or condominium to notify a secured party of any vacant and abandoned property located in the county, municipal corporation, homeowners association, or condominium in a specified manner; specifying the contents of a specified notice; etc.

  

Sponsored by: Rep. Barrie S. Ciliberti Unfavorable Report By Environment And Transportation on 03/17/2017

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State (Maryland)
Maryland 2017 Regular Session

Mortgages and Deeds of Trust - Prerequisites to Recording [HB-595] [Real Estate ]
Repealing the requirement that a mortgage or deed of trust bear a specified certification that the instrument was prepared by a specified person in order to be recorded; providing that a deed other than a mortgage, deed of trust, or an assignment or release of a mortgage or deed of trust may not be recorded unless the instrument bears specified certification of preparation; etc.

  

Sponsored by: Rep. Marvin E Holmes Approved By The Governor - Chapter 520 on 05/04/2017

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State (Maine)
Maine 128th Legislature

An Act To Protect a Homeowner's Equity of Redemption in a Foreclosure Action [SB-880] [Real Estate ] [Housing ] [Consumer Protection ] [Finance ]
An Act To Protect a Homeowner's Equity of Redemption in a Foreclosure Action

  

Sponsored by: Rep. Joyce McCreight Passed To Be Enacted, In Concurrence. on 05/24/2017

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State (Maryland)
Maryland 2017 Regular Session

Maryland Mortgage Lender Law - Mortgage Lender - Definition [HB-525] [Finance ] [Housing ] [Real Estate ] [Consumer Protection ]
Altering the definition of "mortgage lender" under the Maryland Mortgage Lender Law to include a specified assignee or successor of a person who makes a mortgage loan to any person and acquires the mortgage loan when the mortgage is in default and to exclude a specified licensee.

  

Sponsored by: Sen. Charles E. Sydnor Unfavorable Report By Economic Matters on 03/14/2017

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State (Maine)
Maine 128th Legislature

An Act To Require Mortgage Servicers To Act in Good Faith in Dealings with Homeowners [SB-731] [Finance ] [Housing ] [Real Estate ] [Consumer Protection ]
An Act To Require Mortgage Servicers To Act in Good Faith in Dealings with Homeowners

  

Sponsored by: Rep. Ralph L. Tucker Ld 731 In Senate, June 27, 2017, This Bill, Having Been Returned By The Governor, Together With Objections To The Same Pursuant To The Provisions Of The Constitution Of The State Of Maine, After Reconsideration, The Senate Proceeded To Vote On The Question: "shall This Bill Become A Law Notwithstanding The Objections Of The Governor?" 28 In Favor And 6 Against, Accordingly It Was The Vote Of The Senate That The Bill Become Law And The Veto Was Overridden. on 06/27/2017

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State (Maryland)
Maryland 2017 Regular Session

Credit Regulation - Closed End Credit Loans - Elimination of Duplicative Disclosures [SB-392] [Finance ] [Consumer Protection ] [Housing ]
Providing that a specified disclosure provided by a lender to a borrower in compliance with a specified federal law shall satisfy specified disclosure requirements under provisions of law governing closed end credit loans secured by a first mortgage or first deed of trust on residential real property; requiring the Commissioner of Financial Regulation to monitor specified federal requirements and notify the Governor and the General Assembly if the Commissioner makes a specified determination; etc.

  

Sponsored by: Sen. Thomas McClain Middleton Approved By The Governor - Chapter 484 on 05/04/2017

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State (Maryland)
Maryland 2017 Regular Session

Mortgages and Deeds of Trust - Prerequisites to Recording [SB-376] [Real Estate ]
Repealing the requirement that a mortgage or deed of trust bear a specified certification that the instrument was prepared by a specified person in order to be recorded; providing that a deed other than a mortgage, deed of trust, or an assignment or release of a mortgage or deed of trust may not be recorded unless the instrument bears specified certification of preparation; etc.

  

Sponsored by: Sen. Wayne Norman Approved By The Governor - Chapter 521 on 05/04/2017

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State (Maryland)
Maryland 2017 Regular Session

Income Tax - Subtraction Modification - Mortgage Forgiveness Debt Relief [SB-367] [Taxes ] [Housing ] [Real Estate ]
Allowing a subtraction modification under the Maryland income tax for income from the discharge of indebtedness related to acquiring, constructing, substantially improving, or refinancing a principal residence; providing that the subtraction does not apply to more than $100,000 for an individual and $200,000 for a married couple filing jointly or specified individuals; applying the Act to taxable years beginning after December 31, 2016, but before January 1, 2019; etc.

  

Sponsored by: Sen. William C. Ferguson Approved By The Governor - Chapter 231 on 04/18/2017

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State (Louisiana)
Louisiana 2017 Regular Session

Provides for certain form requirements imposed on financial institutions relative to the cancellation of mortgages [HB-400] [Finance ] [Real Estate ] [Housing ] [Consumer Protection ]
Provides for certain form requirements imposed on financial institutions relative to the cancellation of mortgages

  

Sponsored by: Rep. Raymond E. Garofalo Signed By The Governor. Becomes Act No. 62. on 06/03/2017

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State (Maryland)
Maryland 2017 Regular Session

Washington Suburban Sanitary Commission - Connection Pipe Emergency Replacement Loan Program MC/PG 109-17 [HB-320] [Water ] [Housing ] [Consumer Protection ] [Funding ] [Public Safety ]
Requiring the Washington Suburban Sanitary Commission to establish a Connection Pipe Emergency Replacement Loan Program to provide loans to residential customers to finance the replacement of malfunctioning pipes; requiring the Program to include a requirement regarding notification or certification of an active leak; requiring that the replacement of specified pipes be performed by a plumber licensed by the Commission; requiring the Program to provide loans on a first- come, first-served basis; etc.

  

Sponsored by: Rep. Montgomery County Delegation Hearing 4/04 At 1:00 P.m. on 04/04/2017

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State (Maryland)
Maryland 2017 Regular Session

Commercial Law - Credit Regulation - Reverse Mortgages - Escrow Accounts [SB-283] [Finance ] [Real Estate ] [Insurance ] [Consumer Protection ] [Housing ]
Requiring a reverse mortgage lender to establish an escrow account for the payment of property taxes and insurance; requiring the escrow account to be established in accordance with specified provisions of law; requiring the escrow account to allow for monthly collection and deposit of funds; requiring a reverse mortgage lender to send specified notices; and applying the Act prospectively.

  

Sponsored by: Sen. Justin D Ready Unfavorable Report By Finance; Withdrawn on 02/09/2017

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State (Maine)
Maine 128th Legislature

An Act Relating to Exempt Equity in a Primary Residence [SB-1354] [Real Estate ] [Housing ] [Property Tax ]
An Act Relating to Exempt Equity in a Primary Residence

  

Sponsored by: Sen. Michael E. Carpenter Pursuant To Joint Rule 310.3 Placed In Legislative Files (dead) on 05/18/2017

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State (Maine)
Maine 128th Legislature

An Act To Ensure the Timely and Proper Completion of Residential Foreclosures [SB-1355] [Real Estate ] [Housing ] [Consumer Protection ] [Finance ]
An Act To Ensure the Timely and Proper Completion of Residential Foreclosures

  

Sponsored by: Sen. Michael E. Carpenter Pursuant To Joint Rule 310.3 Placed In Legislative Files (dead) on 01/18/2018

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State (Maryland)
Maryland 2017 Regular Session

Real Property - Residential Foreclosures - Filing Fees [HB-200] [Real Estate ] [Housing ] [Finance ] [Property Tax ]
Increasing, from $300 to $500, the filing fee that must accompany an order to docket or a complaint to foreclose a mortgage or deed of trust on residential property and that is distributed to the Housing Counseling and Foreclosure Mediation Fund.

  

Sponsored by: Rep. Mark S. Chang Unfavorable Report By Environment And Transportation on 02/27/2017

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State (Maine)
Maine 128th Legislature

An Act To Improve the Foreclosure Process by Regulating Mortgage Loan Servicers [SB-1292] [Finance ] [Real Estate ] [Housing ] [Consumer Protection ]
An Act To Improve the Foreclosure Process by Regulating Mortgage Loan Servicers

  

Sponsored by: Sen. Dana L. Dow Passed To Be Enacted, In Concurrence. on 05/24/2017

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