Maryland adopted rules reducing the investigation fee required for licensing and the fee for participating in pre-file foreclosure mediation. Under the adopted rules, a mortgage lender, broker or loan originator applying for a license under the Mortgage Lender Law or the Mortgage Originator Law must now pay an investigation fee of $1 (rather than $100). The adopted rules also reduce the fee for participating in pre-file foreclosure mediation to $1 (rather than $350). The adopted rules become effective July 1, 2016.
See Maryland Secretary of State website for the full text of the Regulations:
http://www.dsd.state.md.us/MDR/4311.pdf
http://www.dllr.state.md.us/regs/propreg-finreg-comar090306oct162015.shtml
http://www.dllr.state.md.us/regs/propreg-finreg-comar090309oct162015.shtml
http://www.dllr.state.md.us/regs/propreg-finreg-comar090312oct162015.shtml
