Subject to § 6–606.1 of this subtitle, a credit union may make a loan to a member that is secured by real or leasehold property in accordance with written real estate lending policies established by the board as provided in this section. A loan under this section shall be: Secured by a deed of trust or mortgage on real or leasehold property; and Amortized over a period of 30 years or less. The Commissioner may review the lending policies of the credit union and order changes. This subsection does not apply to an extension of credit or loan made by a credit union on or after October 1, 1994. A loan under this section that is secured by a first mortgage may be made at any rate of interest that does not exceed the rate authorized by Title 12, Subtitle 1 of the Commercial Law Article for mortgage loans. A loan under this section that is secured by a second mortgage may be made at any rate of interest that does not exceed the rate authorized by Title 12, Subtitle 4 of the Commercial Law Article.