Recent Maryland Case Updates
The Court of Appeals of Maryland held that a foreign statutory trust, which merely served as a special purpose vehicle to own a mortgage loan, was not required to obtain a collection agency license prior to pursing foreclosure through its substitute trustees.
Recording of Declaration in land records providing for utility assessments does not create a lien, but merely authorizes the creation of lien upon compliance with Maryland Contract Lien Act.
Real Estate Broker subject to discipline for failing to disclose to a Buyer potential well-water contamination in the neighborhood due to a well-known gas leak, and that the Property was subject to periodic well-testing for possible contamination.
The Court of Special Appeals of Maryland held that a foreclosure proceeding was subject to state law collection agency requirements, and therefore that a statutory trust that owned a consumer mortgage loan was required to hold a collection agency license prior to proceeding with foreclosure.