1408

LAWS OF MARYLAND

[Ch. 281

to read as follows:

Article — Commercial Law

12—108. Points Prohibited.

(A) Except for a loan described in §12-103(d) or
(e) of this subtitle, a lender may not charge a borrower
or any other person any point or fraction of a point.

[[12-108. Points Prohibited.

(A)  Except for a loan described in §12-103(d) or (e)
of this subtitle, a lender may not charge a borrower or
any other person any point or fraction of a point.

(B)    NOTWITHSTANDING THE PROVISION OF SUBSECTION
(A), 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 IN ORDER TO QUALIFY THE LOAN FOR SALE IN
WHOLE OR IN PART, OR IN ORDER TO OBTAIN A PURCHASE
COMMITMENT, UNDER ANY PROGRAM AUTHORIZED BY FEDERAL OR
STATE OF MARYLAND STATUTE OR REGULATION, 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 HONE ADMINISTRATION.]]

12-108.

[[(C)]] (B) 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 (EXCLUSIVE OF THE MARYLAND HOME
FINANCE AUTHORITY) OR BY ANY FEDERAL [[OR STATE]] 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;

(1) THE LOAN IS ELIGIBLE FOR PURCHASE BY, AND IS
TENDERED IN GOOD FAITH, FOR PURCHASE, PURSUANT TO A
[[COMMITTMENT]] COMMITMENT OR OFFER TO PURCHASE BY THE
FEDERAL [[OR STATE]] AGENCY, INSTRUMENTALITY, OR
SUBSIDIARY;