Changes to Maryland Foreclose Forms: New Versions Required by October 22

The Maryland Office of Financial Regulation has issued an advisory on updates to the state's Notice of Intent to Foreclose forms which are expected to take effect October 22. Here's what credit unions need to know:

• Name Change: The Office of Financial Regulation will update the forms to reflect a name change from "the Office of the Commissioner of Financial Regulation" to simply "the Office of Financial Regulation," as per a General Assembly decision.
• Effective Date: The revised forms are expected to become effective October 22, 2024.
• Preview of Forms: Revised forms are available for preview, showing a placeholder version date "MM/DD/YYYY." This will change to 10/22/2024 once the updates go live. You can view the update forms here (scroll to the bottom of the page).
• Submission Deadline for Old Forms: All NOIs created and saved on or before October 21, 2024, must be submitted by that date. Beginning October 22, 2024, the system will no longer accept NOIs saved before October 21 and attempts to submit these will result in an error.