Section 12-115 – Repossession of Goods Securing Loan
(a) With respect to any loan made at a rate of interest pursuant to § 12–103(a) and (c) of this subtitle or § 12–306 of this title: (1) A lender may repossess goods securing a loan under an agreement if the borrower is in default in: (i) The payment of any sum due under the agreement; (ii) The performance […]
Section 12-116 – Refinancing of Loan at Higher Rate
Any loan made before July 1, 1982, which is refinanced at a higher rate pursuant to § 12–103(a) and (c) of this subtitle or § 12–306 or § 12–404 of this title must comply with the following requirements: (1) The lender must give the following disclosures in writing to the borrower prior to the execution by […]
Section 12-117 – Compliance With 14-1302
With respect to any loan made at a rate pursuant to § 12–103(a) and (c) of this subtitle or § 12–404 of this title, the lender must comply with § 14–1302 of this article except that subsection (c) of § 14–1302 is not applicable.
Section 12-118 – Change in Rate of Interest or Finance Charge During Term of Obligation
A lender may not enter into a loan agreement, providing for an initial interest rate pursuant to § 12–103(a) and (c) of this subtitle or § 12–306 or § 12–404 of this title, which contains a provision that permits the lender to increase or decrease the applicable rate of interest or finance charges from time […]
Section 12-106.1 – Requiring False Statement That Loan Is Commercial Loan
(a) A person may not require a borrower, as a condition to receiving a loan, to make any false or misleading statement or characterization that a loan is a commercial loan under § 12–101(c), § 12–103(e), or § 12–105 of this subtitle or § 12–401(i)(3) of this title if the loan is not a commercial loan. […]
Section 12-107 – Computing Interest Rate if Charge Assessed at Inception of Loan
If a charge or fee considered interest under this subtitle is charged at or before the inception of a loan contract, the effective rate of simple interest permitted to be charged by §§ 12-102 and 12-103 of this subtitle, and required to be disclosed by § 12-106 of this subtitle shall be determined in the […]
Section 12-108 – Points Prohibited; Exceptions; Charges Which Lenders May Impose
(a) Except for a loan described in § 12–103(d) or (e) of this subtitle, a lender may not charge a borrower or any other person any point or fraction of a point. (b) Notwithstanding the provisions of subsection (a) of this section, a lender may charge points on a mortgage loan which is not insured or guaranteed […]
Section 12-109 – Interest on Escrow Accounts; Statement of Balance
(a) (1) In this section the following words have the meanings indicated. (2) “Escrow account” means an expense or escrow account which tends to protect the security of a loan by the accumulation of funds for the payment of taxes, insurance premiums, water and sewer facilities assessments, or other expenses. (3) “Lending institution” means a bank, savings bank, or […]
Section 12-109.1 – Use of Escrow Account Funds for Certain Purposes Prohibited
(a) The provisions of this section do not apply to escrow accounts maintained in connection with loans described in § 12–103(e)(1) of this subtitle. (b) Except in a foreclosure, release, or as provided in subsection (c) of this section, funds in any escrow account for use in paying taxes, insurance premiums, ground rents, and water and sewer […]
Section 12-109.2 – Management of Escrow Accounts; Lender’s Bankruptcy; Fees and Charges
(a) (1) In this section the following terms have the meanings indicated. (2) “Escrow account” has the meaning stated in § 12-109 of this subtitle. (3) “Lender” includes a lender and assignee of a lender. (4) “Mortgage” includes a mortgage and a deed of trust. (b) (1) Funds in any escrow account shall be kept separate from and may not be commingled […]