Maryland Statutes
§ 11-521
(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.
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Nearby Sections
15
§ 11-101
§ 11-101§ 11-102
§ 11-102§ 11-201
§ 11-201§ 11-202
§ 11-202§ 11-203
§ 11-203§ 11-203.1
§ 11-203.1§ 11-203.2
§ 11-203.2§ 11-203.3
§ 11-203.3§ 11-204
§ 11-204§ 11-205
§ 11-205§ 11-206
§ 11-206§ 11-207
§ 11-207§ 11-208
§ 11-208§ 11-209
§ 11-209§ 11-209.1
§ 11-209.1