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Industry Advisories Issued Before the Current Calendar Year - Financial Regulation

The Office of the Commissioner of Financial Regulation issues advisories for the industries and activities regulated by the Commissioner, including but not limited to licensed or registered financial service businesses and state-chartered financial institutions. Advisories provide time-sensitive regulatory notifications or policy-related guidance.

Most advisories are available for one to two years after issuance; certain policy-related advisories will remain indefinitely (or until they are determined to be no longer relevant).

All advisories are downloadable as a pdf unless otherwise indicated.

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 2021 ADVISORIES

REGULATED ACTIVITY OR INDUSTRY

ISSUE DATE
(mm/dd/yyyy)

ADVISORY TITLE

TYPE OF ADVISORY

mortgage servicing; debt collection; foreclosure

12/27/2021

Notice to Servicers: Maryland Homeowner Assistance Fund Now Open

guidance

mortgage servicing; debt collection; foreclosure

11/2/2021

Notice to Servicers: Maryland Homeowner Assistance Fund to Open Soon

guidance

mortgage servicing

10/14/2021

Reminder to Servicers: Property Inspection Fees Generally Prohibited

guidance

state-licensed financial service providers

09/08/2021

Reminder: Elimination of Paper Licenses and Changes in Maryland License Numbers

notice

collection agencies and consumer credit reporting agencies

09/08/2021

Real Property: Reusable Tenant Screening Reports

guidance

state-chartered banks and credit unions; supervised financial institutions

09/08/2021

Financial Institutions – Security Questions and Measures (second advisory with additional guidance)

guidance

money transmission

09/08/2021

Financial Institutions – Money Transmission (second advisory with additional guidance)

guidance

consumer and installment loan lenders; mortgage lenders, brokers, originators; sales financing companies; state-chartered banks and credit unions

09/02/2021

Evaluation Rules and Alternative Methods of Determining Creditworthiness

guidance

state-licensed financial service providers

09/02/2021

State Examination System (SES) Enrollment Process for Licensees: Maryland to Commence Use of SES in September, 2021

notice

mortgage lenders and brokers

08/19/2021 (original issuance 07/28/2021)

Employment of Mortgage Loan Originators: W-2 Compensation not Mandated under Maryland Law and Dual Capacity in Real Estate Sales - REVISED

guidance

state-chartered banks and credit unions; supervised financial institutions

07/29/2021

Financial Institutions – Security Questions and Measures

guidance

state-licensed financial service providers

07/21/2021

Elimination of Paper Licenses and Changes in Maryland License Numbers

notice

money transmission

07/15/2021

Financial Institutions – Money Transmission

guidance

state-chartered banks and credit unions

07/01/2021

Income Tax – Subtraction Modification – First–Time Homebuyer Savings Accounts

notice

state-chartered credit unions

07/01/2021

Credit Union General Powers (Federal Parity)

guidance

Mortgage Servicing; Debt Collection; Foreclosure

06/28/2021

Termination of COVID-19 Executive Orders: Reopening of the Notice of Intent to Foreclose Electronic System

COVID-19 Related

Mortgage Servicing; Debt Collection; Foreclosure

04/28/2021

Amended Regulatory Guidance Regarding Foreclosures – NOI UPDATE

COVID-19 Related

Mortgage Servicing; Debt Collection; Foreclosure

03/29/2021

Amended Regulatory Guidance Regarding Foreclosures - Update *

COVID-19 Related

Mortgage Lending and Brokering

03/01/2021

Maryland Mortgage Broker Agreement: Proper Issuance and Compliance

Guidance

Mortgage Servicing; Debt Collection; Foreclosure

02/22/2021

Amended Regulatory Guidance Regarding Foreclosures *

COVID-19 Related

Banking and Credit Unions

02/17/2021

Maryland RELIEF Act of 2021 Payments

COVID-19 Related

Money Transmission

01/29/2021

State Examination System (SES) Information: Communication to Maryland Money Transmission Licensees

Notice

Mortgage Servicing; Debt Collection; Foreclosure

01/28/2021

Regulatory Guidance Regarding Foreclosures *

COVID-19 Related

General (All)

01/22/2021

Emergency Regulations for State-Regulated Entities: Permitting Remote Work for Employees at Certain Locations

Notice

Consumer and Credit Reporting

01/22/2021

Credit Reporting Agencies Registration Requirements and Compliance Procedures

Guidance

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2020 ADVISORIES

REGULATED ACTIVITY OR INDUSTRY

ISSUE DATE
(mm/dd/yyyy)

ADVISORY TITLE

TYPE OF ADVISORY

Mortgage Servicing; Debt Collection; Foreclosure

12/18/2020

NEW Foreclosure Update: Executive Order 20-12-17-02 Issued By Governor Hogan  *

COVID-19 Related

Mortgage Servicing; Debt Collection; Foreclosure; Lending (All)

12/18/2020

Governor Hogan’s Executive Order Number 20-12-17-02: Interpretational Guidance Regarding Foreclosure and Repossession 

COVID-19 Related

Mortgage Servicing; Debt Collection; Foreclosure; Lending (All)

11/09/2020

Governor Hogan’s Executive Order Number 2020-10-16-01: FAQs Regarding Foreclosure and Repossession *

COVID-19 Related

Debt Collection; Lending (All)

11/04/2020

Fair Debt Collection Practices Act: New Federal Rule

Notice

Consumer and Credit Reporting

10/21/2020

Consumer Reporting Agencies: Surety Bonds and Transition of Registration to NMLS

Notice

Mortgage Servicing; Debt Collection; Foreclosure

10/16/2020

Foreclosure Update: New Executive Order Issued By Governor Hogan *

COVID-19 Related

Lending (All)

10/16/2020

Repossessions Update: New Executive Order Issued By Governor Hogan *

COVID-19 Related

Debt Collection

09/21/2020

Debt Collection: Exemptions from Attachment and Execution (New Law Effective October 1, 2020)

Notice

Consumer and Credit Reporting

09/15/2020

Transition of Consumer Reporting Agency Registration to NMLS

Notice

Consumer Lending; Mortgage (All); Credit Services

09/11/2020

Consumer Protections for Mobile Home Purchasers

Notice

Mortgage Lending, Servicing and Brokering

08/19/2020

State Examination System (SES) for Mortgage Licensees: Maryland to Commence use of SES in September 2020

Notice

State-Chartered Banks

08/07/2020

Financial Institutions Parity or the “Wildcard” Statute

Guidance

Non-depository Financial Services

07/15/2020

Information on Identification Requirements for Customers of Non-Depository Financial Services Providers: Maryland Extended Deadline for License Renewals

COVID-19 Related

Depository Institutions

07/15/2020

Information on Identification Requirements for Customers of Depository Institutions: Maryland Extended Deadline for License Renewals

COVID-19 Related

Consumer Lending; Installment Lending

07/13/2020

Sale of Loan Accounts by Consumer Loan Licensees: Clarification

Guidance

Mortgage Lending, Brokering and Origination

05/20/2020

Bond Coverage for Mortgage Loan Originators Employed by Exempt Mortgage Company Registrants

Guidance

Student Loan Servicing; Debt Collection; Consumer and Credit Reporting

05/18/2020

Student Loan Servicers and Credit Reporting Agency Registrants: Furnishing of Inaccurate Student Loan Information during COVID-19

COVID-19 Related

Debt Collection

05/11/2020

Collection Agencies Ceasing Activity

COVID-19 Related

Debt Collection

05/11/2020

Debt Purchasers: Certain Licensing Standards for Collections and Operations

Guidance

Non-depository Financial Services; Depository Institutions

05/04/2020

Interpretive Guidance from the Governor’s Office of Legal Counsel Regarding Garnishment of CARES Act Recovery Rebates (ISSUED BY THE GOVERNOR’S OFFICE)

COVID-19 Related

Non-depository Financial Services

04/30/2020

CARES Act Relief Payments: COVID-19 Pandemic Guidance for Non-Depository Financial Services Providers

COVID-19 Related

Depository Institutions

04/30/2020 REVISED

CARES Act Relief Payments: COVID-19 Pandemic Guidance for Depository Institutions

COVID-19 Related

Depository Institutions

04/17/2020

Legal Lending Limit: COVID-19 Pandemic Guidance

COVID-19 Related

Mortgage Servicing; Debt Collection; Foreclosure

04/06/2020

Executive Order Regarding Notices of Intent to Foreclose *

COVID-19 Related

Lending (All)

04/06/2020

Executive Order Regarding Repossessions *

COVID-19 Related

Mortgage Lending, Brokering and Origination

03/31/2020

Executive Order Authorizes Remote Notarization: Mortgage Lenders Encouraged To Implement Remote Closings

COVID-19 Related

General (All)

03/27/2020

Guidance Regarding Consumer Credit: Borrowers Impacted by the COVID-19 Health Emergency

COVID-19 Related

Mortgage Lending and Servicing; Debt Collection

03/24/2020

Guidance to Mortgage Servicers: Borrowers Impacted by the COVID-19 Health Emergency

COVID-19 Related

Depository Institutions

03/19/2020

Statement on Financial Institutions Working with Customers Affected by the Coronavirus

COVID-19 Related

Mortgage Servicing; Debt Collection; foreclosure

03/19/2020

Coronavirus/COVID-19 Information: Foreclosure of Residential Property Stayed

COVID-19 Related

Mortgage Lending, Brokering and Servicing

03/13/2020

Coronavirus/COVID-19 Information: Emergency and Disaster Preparation for Maryland Licensed Mortgage Brokers, Lenders and Servicers

COVID-19 Related

* Amended and/or restated by a subsequent advisory.

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2019 AND EARLIER ADVISORIES

REGULATED ACTIVITY OR INDUSTRY

ISSUE DATE
(mm/dd/yyyy)

ADVISORY TITLE

TYPE OF ADVISORY

State-chartered Institutions

02/27/2019

Office of the Commissioner of Financial Regulation - Emergency Preparedness Guide for Maryland-Chartered Banks, Credit Unions, and Trust Companies - January 4, 2012 (Updated 02-27-2019)

Guidance

Mortgage Lending and Brokering

02/16/2018

Regulatory Alert: Finder's Fee Guidance for Brokers

Guidance

Mortgage (All)

10/25/2017

Property Insurance Coverage Limits Under Maryland Law.

Guidance

Mortgage Servicing

10/18/2017

Commercial Law Article, §13-316(B): Maryland Mortgage Servicing Transfer Notice Requirements

Guidance

Consumer Lending; Installment Lending

08/31/2017

Vehicle Title Loans in Maryland are Subject to Consumer Lending Laws

Guidance

Mortgage (All); money transmission; debt management

08/17/2016

Disclosure of Examination Information by Regulated Entities

Guidance

Check Cashing

06/29/2016

Check Cashing Services Advisory on Bank Imposed Fees

Guidance

Mortgage (All)

09/28/2015

Advisory: Guidelines for Compliance with State and Federal Requirements to Provide Housing Counseling Information for Borrowers

Guidance

Mortgage Servicing; Debt Collection; Foreclosure

04/08/2015

Advisory: Court of Special Appeals Clarifies Notice of Intent to Foreclose Requirement in Reported Case

Guidance

Non-depository Financial Services

03/28/2014

Advisory: Maryland Definition: Qualifying Individual

Guidance

Mortgage Lending and Servicing

01/07/2014

Advisory: Property Preservation – Nonjudicial Evictions 

Guidance

State-chartered Banks

01/16/2013

Wildcard Lending Limit - This Declaratory Ruling Addresses State-chartered Banks' Lending Limits

Guidance

Credit Services; Foreclosure

09/16/2013

Advisory: Guidance For Real Estate Licensees in Short Sales Transactions

Guidance

Debt Collection

05/05/2010

Advisory Regarding Licensure of Debt Purchasers - Advisory 5-10 (Word)

Guidance

Consumer Lending; Debt Collection

07/20/2009

Unlicensed Consumer Loan and Prohibited "Payday" Loan Collection Activity (Word)

Guidance

Mortgage Lending and Brokering

08/05/2005

Mortgage Brokers 05-06 (Word)

Guidance

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