(a) In this subtitle the following words have the meanings indicated. (b) “Borrower” has the meaning stated in § 11–501 of the Financial Institutions Article. (c) “Home buyer education or housing counseling” means instruction on preparing for home ownership, shopping for a home, obtaining a mortgage, loan closing, and life as a homeowner. (d) “Lender” means a person that […]
(a) This subtitle applies to any lender that makes a mortgage loan secured by owner–occupied residential real property located in the State. (b) This subtitle does not apply to: (1) A secondary mortgage loan; (2) An open–end or revolving home equity line of credit; (3) A construction loan; (4) An individual who takes back a deferred purchase money mortgage in connection […]
(a) Unless the lender is otherwise required by federal or State law to refer the borrower to housing counseling, a lender shall provide to a borrower a written notice, in the form specified in regulations adopted by the Department of Housing and Community Development, in consultation with the Commissioner of Financial Regulation, that includes: (1) A statement […]
A lender may not close on a mortgage loan unless the lender has provided to the borrower the notice required under § 12–1303 of this subtitle.
