§ 12-108. Points
West's Annotated Code of MarylandCommercial Law
MD Code, Commercial Law, § 12-108
§ 12-108. Points
(1) The loan is eligible for purchase by an agency or instrumentality of the United States government, or a subsidiary thereof, pursuant to the Emergency Home Purchase Assistance Act of 1974 (PL93-449) or any amendment to it, and is tendered in good faith for purchase pursuant to a commitment obtained by the lender from such an agency, instrumentality, or subsidiary; and
(c) Notwithstanding the provisions of subsection (a) of this section, a lender may impose and collect, as a condition of making a loan, all fees, discounts, points, or other charges that lenders are permitted or required to impose, collect, or pay pursuant to a federal or Maryland law providing for a program of mortgage purchases or loans originated pursuant to a State or local governmental program of direct lending or mortgage purchase, or by any federal agency or instrumentality or subsidiary thereof, including, but not limited to, Government National Mortgage Association, Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Federal Reserve Bank, Federal Home Loan Bank, and the Farmers Home Administration, provided that all of the following conditions are met:
Credits
Added by Acts 1975, c. 1, § 2, eff. July 1, 1975. Amended by Acts 1975, c. 49, § 3, eff. July 1, 1975; Acts 1975, c. 281; Acts 1979, c. 1; Acts 2013, c. 43, § 5.
Formerly Art. 49, § 2.
MD Code, Commercial Law, § 12-108, MD COML § 12-108
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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