3152                                          LAWS OF MARYLAND                                      Ch. 823

(1)  To any bank, trust company, savings bank, savings
and loan association, insurance company, State or federally
chartered credit union, or other financial institution whose
power to engage in mortgage loan transactions is regulated by any
other law of this State or of the United States;

(2)  To a person who takes back a deferred purchase
money secondary mortgage in connection with the sale of real
property owned by, and titled in the name of, that person;

(3)  To a person who takes back a deferred purchase
money secondary mortgage in connection with the sale of a new
residential dwelling that the person built;

(4)  To any nonprofit religious or charitable
organization;

(5)  To an employer making a secondary mortgage loan
to an employee; [or]

(6)  To a lender making a secondary mortgage loan to a
borrower with whom the lender is related by blood or marriage; OR

(7)  TO A HOME IMPROVEMENT CONTRACTOR LICENSED UNDER
ARTICLE 56 WHO ASSIGNS THE MORTGAGE WITHOUT RECOURSE WITHIN 30
DAYS AFTER COMPLETION OF THE CONTRACT TO A PERSON LICENSED UNDER
THIS SUBTITLE OR TO AN INSTITUTION THAT IS EXEMPT BY PROVISION OF
UNDER PARAGRAPH (1) OF THIS SECTION.

12-304.

(a)  A person may not make a secondary mortgage loan unless
the person:

(1)  Is licensed by the Commissioner; or

(2)  Is a person exempted from licensing under this
subtitle.

(b)  (1) A separate license is required for each place of
business where a person makes a secondary mortgage loan.

(2) The person may not:

(i) Receive any application for a secondary
mortgage loan, allow any note or contract for a loan to be
signed, or execute any mortgage or evidence of indebtedness at
any place for which the person does not have a license, except at
the office of the person's lawyer OR AT THE RESIDENCE OF THE
BORROWER WITH THE BORROWER'S EXPRESS WRITTEN CONSENT; or

(ii) Conduct any secondary mortgage loan
business under a name different from the name that appears on the
person's license.