§ 11–521
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 11-521 (2026)
Title 11. Consumer Credit
Subtitle 5. Maryland Mortgage Lender Law
§ 11–521LinkCopy Citation
(a)
A mortgage lender shall require a borrower to provide the mortgage lender with independent evidence of the commercial purpose of the loan where the loan is:
(1)
Secured, in whole or in part, by any interest in a dwelling or residential real estate in Maryland; and
(2)
In excess of $75,000.
(b)
Other than the requirements of subsection (a) of this section, a mortgage lender is not required to make an independent investigation to obtain independent evidence of the commercial purpose.