Title 12. Credit Regulations — Subtitle 13. Mortgage Loans -- Notice of Housing Counseling Programs and Services
Statutes in effect as of October 1, 2026.
Md. Code Ann., Com. Law § 12-1301 (2026)
Title 12. Credit Regulations
Subtitle 13. Mortgage Loans -- Notice of Housing Counseling Programs and Services
§ 12–1301LinkCopy Citation
(a)
In this subtitle the following words have the meanings indicated.
(b)
“Borrower” has the meaning stated in § 11–501 of the Financial Institutions Article.
(c)
“Home buyer education or housing counseling” means instruction on preparing for home ownership, shopping for a home, obtaining a mortgage, loan closing, and life as a homeowner.
(d)
“Lender” means a person that makes a mortgage loan.
(e)
“Mortgage loan” has the meaning stated in § 11–501 of the Financial Institutions Article.
(f)
“Secondary mortgage loan” means a mortgage loan secured by residential real property that is subject to the lien of one or more prior mortgage loans.
Md. Code Ann., Com. Law § 12-1302 (2026)
Title 12. Credit Regulations
Subtitle 13. Mortgage Loans -- Notice of Housing Counseling Programs and Services
§ 12–1302LinkCopy Citation
(a)
This subtitle applies to any lender that makes a mortgage loan secured by owner–occupied residential real property located in the State.
(b)
This subtitle does not apply to:
(1)
A secondary mortgage loan;
(2)
An open–end or revolving home equity line of credit;
(3)
A construction loan;
(4)
An individual who takes back a deferred purchase money mortgage in connection with the sale of residential real property owned by, and titled in the name of, the individual; or
(5)
An individual who makes a mortgage loan to a borrower who is the individual’s spouse, child, child’s spouse, parent, sibling, grandparent, grandchild, or grandchild’s spouse.
Md. Code Ann., Com. Law § 12-1303 (2026)
Title 12. Credit Regulations
Subtitle 13. Mortgage Loans -- Notice of Housing Counseling Programs and Services
§ 12–1303LinkCopy Citation
(a)
Unless the lender is otherwise required by federal or State law to refer the borrower to housing counseling, a lender shall provide to a borrower a written notice, in the form specified in regulations adopted by the Department of Housing and Community Development, in consultation with the Commissioner of Financial Regulation, that includes:
(1)
A statement recommending that the borrower complete home buyer education or housing counseling; and
(2)
Information about home buyer education and housing counseling programs and services provided by nonprofit and government organizations certified by the U.S. Department of Housing and Urban Development that are available to residents of the State.
(b)
The Department of Housing and Community Development shall provide and maintain the information required under subsection (a)(2) of this section.
Md. Code Ann., Com. Law § 12-1304 (2026)
Title 12. Credit Regulations
Subtitle 13. Mortgage Loans -- Notice of Housing Counseling Programs and Services
§ 12–1304LinkCopy Citation
A lender may not close on a mortgage loan unless the lender has provided to the borrower the notice required under § 12–1303 of this subtitle.