Bulletin UNMD-Bulletin-2022-002-MIA Bulletin 22-12

All Maryland settlement agents should be aware of Maryland Insurance Administration Bulletin 22-12 ("MIA Bulletin") regarding disbursement of funds directly to associate real estate brokers, real estate salespersons, or certain business entities organized under Maryland Business Occupations and Professions article sec. 17-512.  You can view the MIA Bulletin attached to this bulletin.

Please read the MIA Bulletin carefully. In order to make such payments, you will have to:

1. Obtain written disbursement authorization from the real estate broker; and
2. List such payments on the Closing Disclosure with the agreement of the lender.

If you need further information, please contact your Maryland Underwriter for FNTI.