WILLIAM DONALD SCHAEFER, Governor Ch. 476

(G) "LICENSE" MEANS A LICENSE ISSUED BY THE COMMISSIONER
UNDER THIS SUBTITLE TO AUTHORIZE A PERSON TO ENGAGE IN BUSINESS
AS A MORTGAGE LENDER.

(H) "LICENSEE" MEANS A PERSON WHO IS LICENSED UNDER THE
MARYLAND MORTGAGE LENDER LAW.

(I) (1) "LOAN APPLICATION" MEANS ANY ORAL OR WRITTEN
REQUEST FOR AN EXTENSION OF CREDIT THAT IS MADE IN ACCORDANCE
WITH PROCEDURES ESTABLISHED BY A MORTGAGE LENDER FOR THE PURPOSE
OF INDUCING THE LENDER TO SEEK TO PROCURE OR MAKE A MORTGAGE
LOAN.

(2) A LOAN APPLICATION DOES NOT INCLUDE THE USE OF AN
ACCOUNT OR LINE OF CREDIT TO OBTAIN A LOAN WITHIN A PREVIOUSLY
ESTABLISHED CREDIT LIMIT.

(J) (1) "MORTGAGE LENDER" MEANS ANY PERSON WHO:

(I)  FOR A FEE OR OTHER VALUABLE CONSIDERATION,
WHETHER RECEIVED DIRECTLY OR INDIRECTLY, AIDS OR ASSISTS ANY
PERSON IN PROCURING A MORTGAGE LOAN;

(II)  MAKES A MORTGAGE LOAN TO ANY PERSON; OR

(III)  ENGAGES IN THE BUSINESS OF SERVICING
MORTGAGE LOANS FOR OTHERS OR COLLECTING OR OTHERWISE RECEIVING
MORTGAGE LOAN PAYMENTS DIRECTLY FROM BORROWERS FOR DISTRIBUTION
TO ANY OTHER PERSON.

(2) A MORTGAGE LENDER DOES NOT INCLUDE:

(I)  A FINANCIAL INSTITUTION THAT ACCEPTS
DEPOSITS AND IS REGULATED UNDER TITLE 3, 4, 5, 6, OR 9 OF THIS
ARTICLE;

(II)  THE FEDERAL HOME LOAN MORTGAGE
CORPORATION;

(III)  THE FEDERAL NATIONAL MORTGAGE
ASSOCIATION;

(IV)  THE GOVERNMENT NATIONAL MORTGAGE
ASSOCIATION;

(V)  ANY PERSON ENGAGED EXCLUSIVELY IN THE
ACQUISITION OF ALL OR ANY PORTION OF A MORTGAGE LOAN UNDER ANY
FEDERAL, STATE, OR LOCAL GOVERNMENTAL PROGRAM OF MORTGAGE LOAN
PURCHASES.

(K) (1) "MORTGAGE LOAN" MEANS ANY LOAN OR OTHER EXTENSION
OF CREDIT THAT IS:

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