Section 12-801 - Definitions.
§ 12-801. Definitions.
(a) In general.- In this subtitle the following words have the meanings indicated.
(b) Borrower.- "Borrower" means an individual who obtains a loan or advance of money.
(c) Commissioner.- "Commissioner" means the Commissioner of Financial Regulation.
(d) Finder's fee.- "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.- "Lender" means a person defined as a mortgage lender under § 11-501(j)(1)(ii) of the Financial Institutions Article.
(f) Mortgage broker.- "Mortgage broker" means a person defined as a mortgage lender under § 11-501(j)(1)(i) of the Financial Institutions Article.
(g) Person.- "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.
[1979, ch. 351; 1980, ch. 257; 1989, ch. 476, § 1; 1990, ch. 6, § 2; 1996, ch. 326, § 10; 1997, ch. 14, § 20; 2005, ch. 25, § 13; 2009, ch. 60, § 5; 2010, chs. 111, 112; ch. 611, § 2.]