Financial Institutions - Conventional Home Mortgage Loans - Assumption and Required Disclosures
Sponsor: Dawn Gile (District 33)Committee: FinanceSubject: Financial InstitutionsStatus: Approved by the Governor - Chapter 203 (as of Dec 1, 2025)
What this bill does
Official synopsis
Requiring banking institutions, credit unions, mortgage lenders, mortgage lending businesses, and mortgage loan originators to include a certain provision in certain conventional home mortgage loans authorizing a certain borrower to purchase the property interest of a certain borrower in connection with a decree of absolute divorce if the lending entity determines that the assuming borrower qualifies for the loan; and applying certain provisions of the Act retroactively.
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Testimony (0)
MGA witness listFAV 7FavorableFWA 5Favorable with amendmentsINFO 1Information only
| Position | Witness | Organization | Testimony |
|---|---|---|---|
| FAV | Steinwedel, William | Maryland Legal Aid Bureau | Oral + Written (PDF) |
| FAV | OMalley, Catherine | Women's Law Center | Written (PDF) |
| FAV | Cook, Margo | Individual | Oral + Written (PDF) |
| FAV | Gile, Senator | Individual | Written (PDF) |
| FAV | Seely, Kelly | Individual | Oral |
| FAV | Senator Gile, Senator Gilelegislator | Individual | Oral |
| FAV | Women's Caucus, Maryland | Individual | Written (PDF) |
| FWA | Richards, Evanlobbyist | Maryland Bankers Association | Oral + Written (PDF) |
| FWA | Enten, robert | Maryland Building Industry Assoc | Oral |
| FWA | May, Lisalobbyist | Maryland REALTORS | Written (PDF) |
| FWA | RASMUSSEN, DENNISlobbyist | The Rasmussen Group LLC | Written (PDF) |
| FWA | Messmer, Steven | Individual | Oral + Written (PDF) |
| INFO | Hennen, Amy | Office of Financial Regulation, Maryland Department of Labor | Written (PDF) |
Organizations on record
Registered lobbyists who testified
FWARASMUSSEN, DENNISThe Rasmussen Group LLCRegistered for: Baltimore Children's Museum, Inc. dba Port Discovery Children's Museum; Chesapeake Renewable Energy, LLC; Chesapeake Ventures Development, LLC; Greater Ocean City Maryland Chamber of Commerce, Inc.; HarborRock Holdings, LLC; Maryland Mortgage Bankers & Brokers Association (MMBBA)…