New Maryland Regulation on Recordation of Security Instruments

Effective Monday, December 29, 2008

The Maryland Commissioner of Financial Regulation finalized regulations on December 19, 2008 requiring information about involved mortgage brokers and lenders. This information must be recorded along with the security instrument. The required information must include the originator/broker name and license number or the mortgage lender name and license number.

MBS-ProClose has created a form to be completed by the lender or originator/broker that must be recorded with all Maryland security instruments. This form is now set to automatically print from ProClose in all Maryland closing packages after the last page of the MD security instrument. The new form id is MDCCC1.

See the original proposal and final regulation for more information.