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, […]

Civil Practice a ” Interpleader – ” Trusts & Estates – ” Payable on Death IRA – ” Decedent’s Debt

UBS Financial Services, Inc. v. Banco Popular de Puerto Rico 6:17-cv-00607; D.S.C. Holding: Where the defendant-bank says a portion of a decedent's IRA is necessary to pay a mortgage foreclosure deficiency, but where the IRA was payable on death to the defendant-widow, the court finds it … You may have reached this page due to […]