(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 […]
(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 § 12–1018(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 upon: (i) A written opinion of the Attorney […]
An action for violation of this subtitle may not be brought more than 6 months after the loan is satisfied.
A credit grantor is not liable for any failure to comply with a provision of this subtitle if, within 60 days after discovering an error and prior to institution of an action under this subtitle or the receipt of written notice from the borrower, the credit grantor notifies the borrower of the error and makes […]
(a) (1) A credit grantor may repossess tangible personal property securing a loan under an agreement, note, or other evidence of the loan if the consumer borrower is in default. (2) The credit grantor may repossess tangible personal property from a consumer borrower only by: (i) Legal process; or (ii) Self-help, without use of force. (b) Nothing in this section authorizes […]
(a) (1) In this section the following words have the meanings indicated. (2) “Borrower” means a consumer borrower who makes an application for a loan secured by a first mortgage or first deed of trust on residential real property to be occupied by the borrower as the borrower’s primary residence. (3) “Commitment” means a written, specific, binding agreement between […]
(a) This section applies only to a loan made by a credit grantor under this subtitle to a consumer borrower. (b) (1) Paragraph (2) of this subsection applies only to a loan or an extension of credit primarily for personal, household, or family purposes. (2) An agreement, note, or other evidence of a loan may not contain: (i) An assignment […]
(a) Any statement or characterization that indicates the borrower intends to obtain a loan solely to acquire an interest in or to carry on a business or commercial enterprise may be relied upon by a credit grantor in making the loan, unless the credit grantor knows or should know that the statement or characterization is false […]
(a) (1) Except as provided in paragraph (2) of this subsection, this section applies only to a loan made by a credit grantor to a consumer borrower. (2) This section does not apply to a loan to which § 3–105.1 of the Real Property Article applies. (b) Within a reasonable time after a loan to a consumer borrower has […]
(a) A credit grantor who receives scheduled monthly periodic payments on more than five loans secured by any interest in residential real property or tangible personal property shall furnish to the consumer borrower a written statement informing the consumer borrower of the amount of: (1) If the interest and charges on the loan were precomputed: (i) Payments credited […]
(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 […]
(a) In this section, “lender’s inspection fee” means a fee imposed by a credit grantor to pay for a visual inspection of residential real property. (b) Except as provided in subsection (c) of this section, a credit grantor may not impose a lender’s inspection fee in connection with a loan made to a consumer borrower that is […]
(a) This section applies only to a loan to a consumer borrower secured by a first mortgage or first deed of trust on residential real property used as the consumer borrower’s primary residence. (b) A credit grantor may require a consumer borrower to pay for services rendered by the credit grantor’s attorney only if the attorney’s fee: […]
(a) (1) In this section the following words have the meanings indicated. (2) “Fully indexed rate” means the index rate, as defined in the mortgage loan documents, prevailing at the time the mortgage loan is approved by the credit grantor, plus the margin that will apply after the expiration of an introductory interest rate. (3) (i) “Mortgage loan” has the […]
