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Current as of December 31, 2021 | Updated by FindLaw Staff
(a) In this subtitle the following words have the meanings indicated.
(b) “Borrower” means an individual who obtains a loan or advance of money.
(c) “Commissioner” means the Commissioner of Financial Regulation.
(d) “Finder's fee” means any compensation or commission directly or indirectly imposed by a broker and paid by or on behalf of the borrower for the broker's services in procuring, arranging, or otherwise assisting a borrower in obtaining a loan or advance of money.
(e) “Lender” means a person defined as a mortgage lender under § 11-501(j)(1)(ii) of the Financial Institutions Article.
(f) “Mortgage broker” means a person defined as a mortgage lender under § 11-501(j)(1)(i) of the Financial Institutions Article.
(g) “Person” includes an individual, corporation, business trust, statutory trust, estate, trust, partnership, association, two or more persons having a joint or common interest, or any other legal or commercial entity.
Cite this article: FindLaw.com - Maryland Code, Commercial Law § 12-801 - last updated December 31, 2021 | https://codes.findlaw.com/md/commercial-law/md-code-coml-sect-12-801/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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