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Committee advances mortgage‑assignment bill amid "zombie mortgage" concerns
Summary
House Bill 1516 was advanced after members discussed concerns about "zombie" mortgages and the secondary mortgage market; sponsors said the bill intends to preserve established secondary market practices while addressing a small subset of problematic post‑foreclosure assignments.
The Economic Matters Committee approved House Bill 1516, which clarifies that certain consumer credit provisions in the Financial Institutions Article generally do not apply to a person who acquires or is assigned a mortgage in whole or in part if that person does not otherwise make mortgage loans or engage…
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