| New
Regulations - November 2008
The
Maryland Association of Mortgage Professionals
would like to inform you of three new sets
of regulations that were finalized last
week and went into effect November 3, 2008.
Click
here to read more.
Advisory from the Commissioner on Loss Mitigation
and Foreclosure Consulting
The
Commissioner of Financial regulation has
issued an advisory on the new business practice
of "loss mitigation". This type
of business may fall under the Protection
of Homeowners in Foreclosure Act which restricts
both payment and types of services offered.
To
read the full advisory please click here
or visit the Commissioners website by clicking
here.
Department
of Labor, Licensing, and Regulation Announces
New Proposals to Amend Regulations
August 29, 2008
The
Commissioner of Financial Regulation proposes
to amend Regulations .02-.04 and .07 and
adopt new Regulations .20 and .21 under
COMAR 09.03.06 Mortgage Lenders. Click
here to read the entire document.
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|
New
Credit Report Authorization Form for Mortgage
Loan Prequalification Inquiry
There
has been a lot of confusion in the past
as to when the law requires that a mortgage
broker issue a written broker agreement.
MAMP's legal counsel was asked to address
this situation and they believe a solution
has been found. To read more visit
the members only webpage by clicking
here.
Proposed Federal Reserve Board Rule Contains
Provisions to Eliminate the Independent
Mortgage Broker!
The
Federal Reserve Board has issued a proposed
rule that could dramatically harm your business.
Click
here to read more.
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Communicating
Effectively with Your Legislators
No matter how you choose to communicate
with your legislator, make sure your message
is clearly and concisely presented. Below
are some tips for making your communication
with legislators, specifically e-mails,
more effective. Click
here to read more.
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The
mission of the Maryland
Association of Mortgage Professionals (MAMP)
is to provide its members with the resources necessary
to deliver the highest standard of service to
the citizens of Maryland. A not-for-profit, voluntary
association of mortgage brokers, MAMP serves as
the "Voice of the Mortgage Broker Industry"
in Maryland. As such, MAMP is active in Annapolis
and Washington, DC protecting the rights of the
mortgage broker industry.
