Fixing The 'Funk' Of Delinquent Loan Holders In Md.

By Laurence Platt, Gus Avrakotos and Kristie Kully (August 8, 2018, 3:11 PM EDT) -- It has been 25 years since the last revision of the Funk & Wagnalls dictionary, a reference source that is over 100 years old and that likely is lost on those who live in an internet world. A decision last week by the Maryland Court of Appeals, the highest court in Maryland, may fuel a revival in dictionary sales by private holders of delinquent loans secured by residential properties located in Maryland. Relying in part on the definition of "doing business" contained in the Funk & Wagnalls dictionary, the court of appeals held that Delaware statutory trusts are not required to be licensed under the Maryland Collection Agency Licensing Act in order to commence foreclosure on residential mortgage loans that were delinquent at the time of acquisition by the holder seeking foreclosure....

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