- A. The notice required under Regulation .03 of this chapter shall be provided to a borrower within 10 business days after initial application.
- B. A lender may require borrower to complete a written application before agreeing to begin processing the loan, if that requirement is explained to the applicant.
- C. A lender may not close on a mortgage loan unless the lender has provided the notice required under §A of this regulation.
Authority: Commercial Law Article, §12-1303, Annotated Code of Maryland
Effective date: January 1, 2011 (37:20 Md. R. 1392)