Maryland activists say they fear hedge fund-created housing crisis

Activists argue Maryland faces another housing crisis unless the state clamps down on hedge funds turning a profit buying distressed mortgages and foreclosing on homes. Advocates, including the Consumer Law Center and the Maryland Consumer Rights Coalition, accuse several hedge funds of purchasing Maryland home loans, not servicing the loans, and aggressively pursuing foreclosures in […]

Maryland Collection Agency License Not Required for Foreign Statutory Trusts

The Court of Appeals of Maryland recently held, in an appeal involving four consolidated cases, that foreign statutory trusts that own delinquent mortgage loans are not required to obtain a collection agency license under the Maryland Collection Agency Licensing Act before substitute trustees can institute foreclosure actions against defaulting borrowers. In each case on appeal, […]