§ 7-401. Definitions
West's Annotated Code of MarylandReal PropertyEffective: July 1, 2019
Effective: July 1, 2019
MD Code, Real Property, § 7-401
§ 7-401. Definitions
(a-1) “Commissioner” means the Commissioner of Financial Regulation in the Maryland Department of Labor.
(b) “Document” includes applications, appraisal reports, HUD-1 settlement statements, W-2 forms, verifications of income or employment, bank statements, tax returns, payroll stubs, and any required disclosure.
(c) “Homeowner” means:
(d) “Mortgage fraud” means any action by a person made with the intent to defraud that involves:
(2) Knowingly creating or producing a document for use during the mortgage lending process that contains a deliberate misstatement, misrepresentation, or omission with the intent that the document containing the misstatement, misrepresentation, or omission be relied on by a mortgage lender, borrower, or any other party to the mortgage lending process;
(3) Knowingly using or facilitating the use of any deliberate misstatement, misrepresentation, or omission during the mortgage lending process with the intent that the misstatement, misrepresentation, or omission be relied on by a mortgage lender, borrower, or any other party to the mortgage lending process;
(e)(1) “Mortgage lending process” means the process by which a person seeks or obtains a mortgage loan.
(f) “Mortgage loan” has the meaning stated in § 11-501 of the Financial Institutions Article.
(g) “Pattern of mortgage fraud” means two or more incidents of mortgage fraud that:
Credits
Added by Acts 2008, c. 3, § 1, eff. April 3, 2008; Acts 2008, c. 4, § 1, eff. April 3, 2008. Amended by Acts 2009, c. 126, § 1, eff. Oct. 1, 2009; Acts 2010, c. 72, § 1, eff. April 13, 2010; Acts 2011, c. 127, § 1, eff. April 12, 2011; Acts 2019, c. 8, § 5.
MD Code, Real Property, § 7-401, MD REAL PROP § 7-401
Current through legislation effective through July 1, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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