Regulation .02 Application.
Regulation .02 Application.LinkCopy Citation
A.
This chapter applies to any lender that makes a mortgage loan secured by owner–occupied residential real property located in the State.
B.
This chapter does not apply to:
(1)
Any mortgage loan in which the initial application was completed prior to January 1, 2011;
(2)
A secondary mortgage loan;
(3)
An open–end or revolving home equity line of credit;
(4)
A construction loan;
(5)
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
(6)
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.