Maryland Repeals Licensing Exemption for Acquirers of Consumer Credit Loans
Summary
Maryland has repealed Section 11-102 of the Maryland Financial Institutions Article, eliminating an exemption that previously allowed certain persons acquiring mortgages, mortgage loans, or installment loans to avoid state licensing requirements. Governor Wes Moore signed Senate Bill 784 on April 14, 2026, characterizing the repeal as a 'clarifying corrective measure' addressing an erroneously enacted 2025 provision. The law takes effect July 1.
“The repealed provision exempted persons who acquired or were assigned: (i) mortgages, if they did not otherwise make mortgages; (ii) mortgage loans, if they did not otherwise engage in mortgage lending; and (iii) installment loans, if they relied on another person to service or collect the loan and did not otherwise make installment loans.”
What changed
Maryland has enacted Senate Bill 784, which repeals Section 11-102 of the Maryland Financial Institutions Article effective July 1. The repealed provision had exempted persons who acquired or were assigned mortgages (if they did not otherwise make mortgages), mortgage loans (if they did not otherwise engage in mortgage lending), or installment loans (where they relied on another person to service or collect and did not otherwise make installment loans) from consumer credit provider licensing requirements.
Affected parties include any entity that acquires or is assigned consumer credit loans in Maryland, including mortgage purchasers and installment loan assignees. These parties should review their licensing status and compliance requirements ahead of the July 1 effective date, as the prior exemption no longer applies under state law.
Archived snapshot
Apr 21, 2026GovPing captured this document from the original source. If the source has since changed or been removed, this is the text as it existed at that time.
April 20, 2026
Maryland repeals licensing exemption for acquirers of consumer credit loans
On April 14, Maryland Governor Wes Moore signed into law Senate Bill 784, repealing Section 11-102 of the Maryland Financial Institutions Article, which previously exempted certain persons who acquire or are assigned mortgages, mortgage loans, or installment loans from state licensing requirements governing consumer credit providers. The General Assembly stated that the repeal is a “clarifying corrective measure” to address a provision that was “erroneously enacted” by Chapter 118 of the Acts of the General Assembly of 2025 (previously covered by InfoBytes here). The repealed provision exempted persons who acquired or were assigned: (i) mortgages, if they did not otherwise make mortgages; (ii) mortgage loans, if they did not otherwise engage in mortgage lending; and (iii) installment loans, if they relied on another person to service or collect the loan and did not otherwise make installment loans. The law takes effect July 1.
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