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Health & Fitness

#3 - Maryland General Assembly 2011 Legislative Update

HB-102 – FINANCIAL INSTITUIONS – MORTGAGE LOAN ORIGINATORS – PROHIBITED ACTS – STATUS: PASSED – Effective October 1, 2011 –

Maryland General Assembly 2011 Legislative Update – Real Estate Brokerage and Contracts

MORTGAGE LOAN ORIGINATORS – HB 102 - PROHIBITED ACTS – STATUS: PASSED – Effective October 1, 2011 –  Prohibits a mortgage loan originator from make a payment, threat, or promise in order to improperly influence the independent judgement of a  real estate appraiser. However, HB102 stills permits a mortgage loan originator to request the appraiser to : consider additional information; provide further substantiation of appraiser’s conclusions; and correct errors. Payment may also be withheld if the appraisal is subject to  a legal or administrative action.

HB-128 – CONSUMER LAW – MARYLAND CONSUMER PROTECTION ACT – SCOPE – STATUS: PASSED – Effective October 1, 2011Adds merchants whose business includes paying off consumer debt in connection with consumer goods and realty to the purview of the unfair or deceptive trade practices act if the merchant is purchasing consumer goods or realty.

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