Md. Code Regs. 05.19.01.02

Current through Register Vol. 51, No. 24, December 2, 2024

Section 05.19.01.02 - Application

A. This chapter applies to any lender that makes a mortgage loan secured by owner"occupied residential real property located in the State.

B. This chapter does not apply to:

(1) Any mortgage loan in which the initial application was completed prior to January 1, 2011;

(2) A secondary mortgage loan;

(3) An open"end or revolving home equity line of credit;

(4) A construction loan;

(5) An individual who takes back a deferred purchase money mortgage in connection with the sale of residential real property owned by, and titled in the name of, the individual; or

(6) An individual who makes a mortgage loan to a borrower who is the individual's spouse, child, child's spouse, parent, sibling, grandparent, grandchild, or grandchild's spouse.

Md. Code Regs. 05.19.01.02