The Honorable Thomas V. Mike Miller, Jr.
President of the Senate
State House
Annapolis MD 21401

Dear Mr. President:

In accordance with Article II, Section 17 of the Maryland Constitution, I have today vetoed Senate Bill 872 - Credit Regulation - Mortgage Lending.

This bill requires licensed mortgage lenders to notify the Commissioner of Financial Regulation in writing of a proposed change in location or ownership and obtain the Commissioner's approval. The bill also changes a violation of the Maryland Mortgage Lender Law from a misdemeanor to a felony.

House Bill 1337, which was passed by the General Assembly and signed by me today, accomplishes the same purpose. Therefore, it is not necessary for me to sign Senate Bill 872.

Parris N. Glendening