§ 12–119
Statutes in effect as of October 1, 2026.
Md. Code Ann., Com. Law § 12-119 (2026)
Title 12. Credit Regulations
Subtitle 1. Interest and Usury
§ 12–119LinkCopy Citation
(a)
This section applies to any application for a loan, other than a commercial loan, to be secured by a first mortgage or first deed of trust on a borrower's primary residence.
(b)
Any lender that imposes fees on borrowers for settlement services, or document review services, performed by a lender-designated attorney, or who conditions settlement on the employment of a particular attorney or title insurance company under § 12-120(c) of this subtitle, shall provide a prospective borrower with a written notice stating:
(1)
The lender’s requirements concerning selection of an attorney, title insurance company, or other person to perform settlement services relating to the purchase of the real property;
(2)
The borrower’s ability to choose an attorney or title insurance company under § 12-120(c) of this subtitle; and
(3)
A good faith estimate of the fee or fees to be charged to the borrower.
(c)
If notice is required by this section:
(1)
The notice shall be provided at the time of or within 3 days after the application for a loan, or earlier upon request; and
(2)
A copy of the notice, signed by the applicant, shall accompany any executed application for a loan.