2025 Regular SessionMaryland Legislature

SB1026: Financial Institutions - Consumer Credit - Application of Licensing Requirements (Maryland Secondary Market Stability Act of 2025)

Legislative Summary

Providing that certain provisions of law governing the licensing of providers of certain financial services in the State do not apply to a certain person that acquires or is assigned a certain mortgage, mortgage loan, or installment loan under certain circumstances or a certain trust that acquires or is assigned a certain mortgage loan under certain circumstances; establishing the Maryland Licensing Workgroup; and requiring the Workgroup to report to the Governor and the General Assembly by December 31, 2025.

Demographic Impact

Overall analysis of equity impact

60% Positive
Low ConfidenceView detailed demographic breakdown ↓

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Bill History

2/17/2025
First Reading Senate Rules
Senate
3/6/2025
Rereferred to Finance
Senate
3/6/2025
Hearing 3/11 at 1:00 p.m.
Senate
3/14/2025
Favorable with Amendments Report by Finance
Senate
3/14/2025
Favorable with Amendments {133727/1
Senate
3/14/2025
Motion Laid Over (Senator Sydnor) Adopted
Senate
3/14/2025
Favorable with Amendments {133727/1 Adopted
Senate
3/14/2025
Second Reading Passed with Amendments
Senate
3/17/2025
Third Reading Passed (44-0)
Senate
3/17/2025
Referred Economic Matters
House of Delegates
4/1/2025
Favorable with Amendments Report by Economic Matters
House of Delegates
4/2/2025
Favorable with Amendments {303527/1 Adopted
House of Delegates
4/2/2025
Second Reading Passed with Amendments
House of Delegates
4/7/2025
Third Reading Passed (129-3)
House of Delegates
4/7/2025
Senate Concurs House Amendments
Senate
4/7/2025
Third Reading Passed (42-1)
Senate
4/7/2025
Passed Enrolled
Senate
4/22/2025
Approved by the Governor - Chapter 118
Senate

Amendments

Favorable with Amendments 303527/1 Adopted

Favorable with Amendments 303527/1 Adopted

4/2/2025Adopted

Favorable with Amendments 133727/1

Favorable with Amendments 133727/1

3/14/2025Not Adopted

Roll Call Votes

Third Reading Passed
4/7/2025
129
Yea
3
Nay
6
Not Voting
3
Absent
Result: PASSED
Third Reading Passed
3/17/2025
44
Yea
0
Nay
0
Not Voting
3
Absent
Result: PASSED

Status Information

Current Status
Passed(4/22/2025)
Chamber
Senate

Sponsors

Democrat: 1

Primary Sponsor

Pamela Beidle
Pamela Beidle
Democrat

Documents

Chaptered
Bill Text4/24/2025211.0 KB
Enrolled
Bill Text4/9/2025228.9 KB
Engrossed
Bill Text3/14/2025132.2 KB
Introduced
Bill Text2/18/2025113.5 KB
Vote Image
Vote Image1/1/197037.1 KB
Vote Image
Vote Image1/1/197038.9 KB