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Maryland Issues Proposed Regulations on Recorded Security Instruments

The Maryland Commissioner of Financial Regulations has published proposed regulations to implement recently adopted emergency legislation requiring the inclusion of the names and license numbers of mortgage lenders and mortgage originators (or an affidavit of exemption) on recorded security instruments encumbering residential property. We previously wrote about the emergency legislation in our April 2008 issue of the Compliance Wizard here. The proposed regulations can be viewed here. Comments on the proposed regulations are due by November 10, 2008. We will keep you posted on the status of the proposed regulations.