Section 12-917 – Criminal Penalties
Any credit grantor or his officer or employee who willfully violates any provision of this subtitle is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $1,000 or imprisonment not exceeding 1 year, or both.
Section 12-918 – Civil Penalties
(a) (1) In this subsection, “notice” means the first to occur of the following: (i) When the credit grantor receives a written notice from the borrower notifying the credit grantor of an error or violation; (ii) When the credit grantor receives a written notice from the Commissioner of Financial Regulation or the appropriate regulatory authority notifying the credit grantor […]
Section 12-918.1 – Civil Penalties — Exception
(a) In this section, “Commissioner” means the Commissioner of Financial Regulation. (b) Except as provided in subsection (c) of this section, the penalty provided under § 12–918(a)(2) of this subtitle does not apply if a credit grantor: (1) Performed or omitted to perform an act in conformity with or in reliance on: (i) A written opinion of the Attorney […]
Section 12-907 – Plan Connected With Demand Deposit Account
(a) If credit under a revolving credit plan is offered and extended by a credit grantor which is a depository institution in connection with a demand deposit account or other transaction account maintained by the borrower with the credit grantor under an agreement or arrangement where the credit grantor agrees to honor checks, drafts, or other […]
Section 12-908 – Deferral of Scheduled Payments; Deferral Charge
A credit grantor may at any time allow a borrower under a revolving credit plan to defer scheduled payments and charge the borrower a deferral charge agreed to by the credit grantor and the borrower.
Section 12-802 – Application of Subtitle
This subtitle does not apply to any loan: (1) Described in § 12–103(e) of this title; or (2) Made by motor vehicle or recreational vehicle dealers in connection with the sale of their vehicles.
Section 12-909 – Insurance Generally
(a) In connection with a plan established for a consumer borrower: (1) The purchase of credit life, credit accident and health, credit disability, involuntary unemployment benefit, and similar coverages is optional with the consumer borrower; and (2) Subject to § 12-909.1 of this subtitle, the purchase of property insurance, title insurance, and credit loss insurance from an insurer […]
Section 12-803 – Prohibited Relationship Between Broker and Lender
A mortgage broker may not be a director, officer, or employee of any lender where he places a loan.
Section 12-909.1 – Insurance Binders
(a) In this section, “binder” means a binder or other temporary contract of insurance as provided under § 12-106 of the Insurance Article. (b) A credit grantor shall comply with this section if the credit grantor: (1) Makes any loan secured by a first lien on any interest in owner-occupied residential real property; and (2) As a condition of […]
Section 12-804 – Fees Mortgage Broker Permitted to Charge
(a) A mortgage broker may charge a finder’s fee not in excess of 8 percent of the amount of the loan or advance. (b) In addition to a finder’s fee, a mortgage broker may charge a borrower for the actual cost of: (1) Any appraisal, credit report, condominium document, or subordination agreement document obtained by the mortgage broker […]