MD SB1026

Exempts persons who acquire or are assigned mortgages, mortgage loans, or installment loans from Maryland licensing requirements, provided they do not otherwise originate such loans and (for installment loans) rely on another party to service or collect on the loans

Creates a new "passive trust" exemption from mortgage lender licensing for trusts that acquire mortgage loans but do not originate loans, act as brokers/servicers, or engage in loan servicing beyond transmitting payments

Exempts trusts established by federal government-sponsored enterprises (Freddie Mac, Fannie Mae, Ginnie Mae) for acquiring mortgage loans from licensing requirements

Establishes the Maryland Licensing Workgroup to study financial services licensing statutes, evaluate efficacy of current licensing systems, and recommend whether to expand licensing to currently exempt entities; report due December 31, 2025

Enacted as emergency legislation effective April 22, 2025, with the stated intent to clarify existing exemptions under state law; workgroup provisions expire June 30, 2026