- (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.
Added by Acts 2010, c. 736, § 1, eff. Jan. 1, 2011.