§ 12–1205
Statutes in effect as of October 1, 2026.
Md. Code Ann., Com. Law § 12-1205 (2026)
Title 12. Credit Regulations
Subtitle 12. Reverse Mortgage Loans Act
§ 12–1205LinkCopy Citation
(a)
A reverse mortgage loan that is not insured under 12 U.S.C. § 1715z–20 is not subject to the provisions in 12 U.S.C. § 1715z–20, or in any regulations or guidance adopted under 12 U.S.C. § 1715z–20, that:
(1)
Limit origination fees to $6,000 as adjusted under 12 U.S.C. § 1715z–20(r);
(2)
Impose maximum claim amounts or other loan limit restrictions; or
(3)
Require government insurance for the loan.
(b)
A lender or an arranger of financing is not subject to the federal regulatory approval requirements of 24 C.F.R., Part 202 when making or arranging a reverse mortgage loan that is not insured under 12 U.S.C. § 1715z–20.