Current with changes from the 2024 Legislative Session
Section 12-801 - Definitions(a) In this subtitle the following words have the meanings indicated.(b) "Borrower" means an individual who obtains a loan or advance of money.(c) "Commissioner" means the Commissioner of Financial Regulation.(d) "Finder's fee" means any compensation or commission directly or indirectly imposed by a broker and paid by or on behalf of the borrower for the broker's services in procuring, arranging, or otherwise assisting a borrower in obtaining a loan or advance of money.(e) "Lender" means a person defined as a mortgage lender under § 11-501(j)(1)(ii) of the Financial Institutions Article.(f) "Mortgage broker" means a person defined as a mortgage lender under § 11-501(j)(1)(i) of the Financial Institutions Article.(g) "Person" includes an individual, corporation, business trust, statutory trust, estate, trust, partnership, association, two or more persons having a joint or common interest, or any other legal or commercial entity.