In this section the following words have the meaning indicated. “Homeowner” means: A record owner of residential property that is owner–occupied at the time the alleged violation of § 13–301 of the Commercial Law Article or other State law occurred; or An individual who occupies residential property under a use and possession order issued under Title 8, Subtitle 2 of the Family Law Article. “Mortgage servicer” has the meaning stated in § 11–501 of the Financial Institutions Article. “Residential property” has the meaning stated in § 7–105.1 of the Real Property Article. “Unfair, abusive, or deceptive trade practice” has the meaning stated in § 13–301 of the Commercial Law Article. This section applies only to claims relating to residential property. An action filed by a homeowner against a mortgage servicer for damages arising out of an unfair, abusive, or deceptive trade practice shall be filed within the earlier of: 5 years after a foreclosure sale of the residential property; or If the mortgage servicer discloses its unfair, abusive, or deceptive trade practice to the homeowner, 3 years after the disclosure to the homeowner.