Maryland passed a bill requiring lenders and servicers to provide a “notice of foreclosure” (Notice) to the Department of Labor, Licensing, and Regulation (Department). Under the bill, if a foreclosure action involves 1-to 4- family residential real estate, the lender or servicer must provide a Notice to the Department within 7 days of filing the order to docket or complaint to foreclose. The bill mandates the information that must be contained in the Notice. The bill becomes effective October 1, 2018.
See Maryland General Assembly website for the full text of the Statutes:
