Legal Affairs News

MAR Legal Hotline to Operate Monday and Wednesday

01/27/2012

Beginning the week of January 23, 2012, the MAR Legal Hotline will operate on Monday and Wednesday only. Due to staffing constraints, the Hotline will not operate on Fridays.

The Maryland Court of Appeals Declares Immunity Provisions of the Reduction of Lead Risk in Housing Act Unconstitutional

11/08/2011

On October 24, 2011, in the case of Jackson v. Dackman Co. et al. (Md. App., 2011), the Court of Appeals of Maryland held that the immunity provisions of the Reduction of Lead Risk in Housing Act (“the Act"), which provide compliant landlords with qualified immunity from tort liability under specified circumstances, violate Article 19 of the Maryland Declaration of Rights (“Article 19”).

New Lease Option Agreement Now Available

10/28/2011

New Lease Option Agreement now available. Go to the Statewide Forms page to review the form.

Video Update of MAR Contract Changes

10/14/2011

For video of other form updates, click below.

Revised Statewide Forms Now Available

09/22/2011

Revised Statewide Forms which are effective October 1, 2011 are now available on the MAR website. Be sure to review the 2011 Statewide Forms Review & Practice Tips document for details of the changes. Go to the Statewide Forms page to review the forms.

New Federal Trade Commission ("FTC") Rule Has Implications for Brokerages

08/24/2011

The FTC recently issued its Mortgage Acts and Practices – Advertising Rule (“MAP Rule” or “Rule”). The Rule imposes requirements on those that provide information about mortgage credit products to consumers by prohibiting misrepresentations during these communications and also imposing recordkeeping requirements. The Rule takes effect on August 19, 2011.

Maryland SDAT Provides Guidance on Ground Rent Registry Law

07/25/2011

The Maryland Department of Assessments and Taxation (“SDAT”) has posted guidance on its website to help interpret The Registry of Ground Leases provisions of Maryland Code, Real Property Article 8-701 et seq. (hereinafter “Registry”). Unfortunately, much uncertainty still exists. This is a must-read for all Maryland licensees.

FTC Will Not Enforce Provisions of MARS Rule Against Real Estate Professionals Helping Consumers Obtain Short Sales

07/15/2011

The Federal Trade Commission (FTC) today issued a statement announcing that it will forbear from enforcing most provisions of its Mortgage Assistance Relief Services (MARS) Rule against real estate brokers and their agents who assist financially distressed consumers in obtaining short sales from their lenders or servicers.

Secure and Fair Enforcement Mortgage Licensing Act of 2008 Takes Effect August 29, 2011

07/06/2011

On June 30, 2011, the Department of Housing and Urban Development (HUD) published a final rule under the Secure and Fair Enforcement Mortgage Licensing Act of 2008 (SAFE Act) (the rule takes effect August 29, 2011). The SAFE Act requires states to establish loan originator licensing requirements that meet minimum federal standards. HUD has overall responsibility for interpretation, implementation, and compliance until July 21 when the Consumer Financial Protection Bureau (CFPB) takes over.

Update from NAR Regarding the MARS Rule

05/19/2011

As you may recall from prior postings, the Mortgage Assistance Relief Services (MARS) rule was issued by the Federal Trade Commission (FTC) and took effect on January 31, 2011. The MARS rule imposes an advance fee ban, advertising restrictions as well as disclosure and record keeping requirements on companies and individuals involved in MARS related activities.

Paging - Page: 1 of 2
	Previous Page \| Next Page