§ 1–213
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 1-213 (2026)
Title 1. Definitions; General Provisions
Subtitle 2. General Provisions
§ 1–213LinkCopy Citation
(a)
(1)
In this section the following words have the meanings indicated.
(2)
“Credit union” has the meaning stated in § 6–101 of this article.
(3)
“Savings and loan association” has the meaning stated in § 8–101 of this article.
(b)
This section applies only to:
(1)
A banking institution;
(2)
A credit union;
(3)
A savings and loan association;
(4)
A community development financial institution; and
(5)
A credit grantor regulated under Title 11 of this article.
(c)
When evaluating an application for a primary residential mortgage loan or an extension of credit, an entity subject to this section shall:
(1)
Adhere to the rules concerning evaluations of applications established under 12 C.F.R. § 1002.6, including consideration of the following verifiable alternative indications of creditworthiness presented or made available to the entity by the applicant:
(i)
History of rent or mortgage payments;
(ii)
History of utility payments;
(iii)
School attendance; and
(iv)
Work attendance; and
(2)
If the applicant requests, consider other verifiable alternative indications of creditworthiness presented or made available to the entity by the applicant.