Compliance News: Revisions to Maryland’s Mortgage Lender Regulations

Sep 9, 2019

Topics: In the News, Compliance News Alert

The Maryland Department of Labor, Licensing, and Regulation finalized (with some modifications) their proposed revisions to Md. Code Regs. 09.03.06 on August 29, 2019, with the finalized rules being published in the Maryland Register on September 13, 2019 (see 46 Md. Reg. 813 [2019], available for a limited time at: http://www.dsd.state.md.us/MDR/mdregister.html; for the proposed rule, see 46 Md. Reg. 315 [2019]). Notable changes include a shuffling of sections (due to new Section 3 “Delivery and Receipt of Mortgage Disclosures”) and new sections directed towards data protection standards. The final amendments take effect on October 4, 2019.

We are currently reviewing this change to determine any impact to our document library and/or systems and evaluating any necessary changes. Any modifications we make will be announced on our website (https://compliance.docutech.com/).

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The preceding is for informational purposes only and is not and may not be construed as legal advice. No third-party entity may rely upon anything contained herein when making legal and/or other determinations regarding its practices, and such third party should consult with an attorney prior to embarking upon any specific course of action.