Real Estate

Md. Holds Collection Agency License Not Required for Foreclosing Creditor

Md. Holds  Collection Agency License Not Required for Foreclosing Creditor

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.

Md. App. holds failure to disclose “Potential Water-Well Contamination” a violation of Real Estate Broker’s Act

Md. App. holds failure to disclose “Potential Water-Well Contamination” a violation of Real Estate Broker’s 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.