In this section the following words have the meanings indicated. “Covered loan” means a mortgage loan made under this subtitle that meets the criteria for a loan subject to the federal Home Ownership Equity Protection Act set forth in 15 U.S.C. § 1602(bb), as modified from time to time by Regulation Z, 12 C.F.R. Part 1026, except that the comparison percentages for the mortgage loan shall be one percentage point less than those specified in 15 U.S.C. § 1602(bb), as modified from time to time by Regulation Z, 12 C.F.R. Part 1026. “Credit health insurance” has the meaning stated in § 13–101 of the Insurance Article. “Credit involuntary unemployment benefit insurance” has the meaning stated in § 13–101 of the Insurance Article. “Credit life insurance” means insurance on the life of a borrower that provides indemnity for repayment of a specific loan or credit transaction on the death of the borrower. “Credit life insurance” does not include life insurance payable to a beneficiary designated by the borrower other than the obligee of a specific loan or credit transaction. “Mortgage loan” has the meaning stated in § 11–501 of the Financial Institutions Article. “Premium” has the meaning stated in § 1–101 of the Insurance Article. “Single premium coverage” means insurance for which the total premium is payable in one lump sum at or before the time coverage commences. Except as provided in this subsection, a lender making a covered loan may not finance as a part of the covered loan transaction single premium coverage for: Credit health insurance; Credit involuntary unemployment benefit insurance; or Credit life insurance. Nothing in this subsection shall prohibit the financing of any insurance coverage in connection with a mobile home or its premises, as those terms are defined in § 8A–101 of the Real Property Article.