Section 5-507 - Notice of rejection of application for residential mortgage.
§ 5-507. Notice of rejection of application for residential mortgage.
(a) When notice required.- If a banking institution rejects an application for a residential mortgage loan, the banking institution shall give the applicant, at the applicant's request, written notice of the rejection.
(b) Use of notice.- The applicant may use this written notice as evidence of rejection for purposes of the Maryland Home Financing Program.
[An. Code 1957, art. 11, § 108-I; 1980, ch. 33, § 2.]