1578

LAWS OF MARYLAND

Ch. 115

(1)  The borrower's right to pay a loan origination
fee not exceeding the greater of $500 OR 4 PERCENT OF THE NET
PROCEEDS OF A COMMERCIAL LOAN OR $250 or 2 percent of the loan
ANY OTHER SECONDARY MORTGAGE LOAN; AND

(2)  The borrower's right not to pay any other
commission, finder's fees, or points for obtaining, procuring, or
placing a loan[; and

(3)  The borrower's right not to pay an interest rate
greater than 24 percent].

12-901.

(d) "Consumer borrower" means an individual receiving a
loan or other extension of credit under this subtitle for
personal, household, or family purposes OR AN INDIVIDUAL
RECEIVING A COMMERCIAL LOAN OR OTHER EXTENSION OF CREDIT FOR ANY
COMMERCIAL PURPOSE NOT IN EXCESS OF $75,000 $50,000 $75,000,
SECURED BY OWNER-OCCUPIED REAL PROPERTY HAVING A DWELLING ON IT
DESIGNATED PRINCIPALLY AS A RESIDENCE WITH ACCOMMODATIONS FOR NOT
MORE THAN 4 FAMILIES.

12-1001.

(d) "Consumer borrower" means an individual receiving a
loan or other extension of credit under this subtitle for
personal, household or family purposes OR AN INDIVIDUAL RECEIVING
A COMMERCIAL LOAN OR OTHER EXTENSION OF CREDIT FOR ANY COMMERCIAL
PURPOSE NOT IN EXCESS OF $75,000 $50,000 $75,000, SECURED BY
OWNER-OCCUPIED REAL PROPERTY HAVING A DWELLING ON IT DESIGNATED
PRINCIPALLY AS A RESIDENCE WITH ACCOMMODATIONS FOR NOT MORE THAN.
4 FAMILIES.

12-1005.

In addition to interest at a periodic percentage rate or
rates permitted by §§ 12-1003 and 12-1004 of this subtitle, a
credit grantor may charge and collect:

(a) (1) Loan fees, points, finder's fees, and other
charges; however, all such charges may not exceed 2 percent of
the original extension of credit;

(2)  In the case of a loan to a consumer borrower, no
loan fees, points, finder's fees, or other charges may be charged
and collected unless the agreement, note, or other evidence of
the loan so provides and the loan is secured by a lien on
residential real property; however, all such charges may not
exceed 2 percent of the original extension of credit OR 4 PERCENT
OF THE ORIGINAL EXTENSION OF CREDIT FOR A COMMERCIAL LOAN NOT
EXCEEDING $75,000 $50,000 $75,000; AND

(3)  The 2 percent limitations imposed by (a)(1) and
(2) above do not apply to a credit extension: