Thompkins v. Mountaineer Investments, LLC

McDonald, j.

It has been said, with respect to the assignment of promissory notes for mortgage loans, that “most attorneys would rather slaughter hogs than contemplate the elements of negotiability.” 1 In this case we are called upon to decide whether an assignee of a second mortgage loan is responsible for certain statutory violations allegedly committed by the original lender when the loan was made.

The Maryland Secondary Mortgage Loan Law (“SMLL”) provides specific protections for a borrower who obtains a loan by mortgaging a residential property that is already subject to a lien. Among…