§ 12-1204. Conformance to requirements of federal law.

Latest version.

(a) Lenders. -- Except as otherwise provided in this subtitle, a lender that offers or makes a reverse mortgage loan secured by a dwelling in the State shall conform to the requirements of 12 U.S.C. § 1715z-20, and any regulations and guidance adopted under 12 U.S.C. § 1715z-20, regardless of whether the reverse mortgage loan is insured under 12 U.S.C. § 1715z-20.

(b) Arrangers of financing. -- Except as otherwise provided in this subtitle, an arranger of financing that aids or assists, or offers to aid or assist, a borrower in obtaining a reverse mortgage loan secured by a dwelling in the State shall conform to the requirements of 12 U.S.C. § 1715z-20, and any regulations and guidance adopted under 12 U.S.C. § 1715z-20, regardless of whether the reverse mortgage loan is insured under 12 U.S.C. § 1715z-20.

HISTORY: 2010, chs. 622, 623.

                    
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