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Statutes Text

Article - Commercial Law




§12–1208.

    (a)    Except as otherwise provided in this section:

        (1)    A lender or arranger of financing for a reverse mortgage loan insured under 12 U.S.C. § 1715z–20 that violates this subtitle is subject to the penalties provided in 12 U.S.C. § 1715z–20, and in any regulations and guidance adopted under 12 U.S.C. § 1715z–20; and

        (2)    A lender or arranger of financing for a reverse mortgage loan not insured under 12 U.S.C. § 1715z–20 that violates this subtitle:

            (i)    Engages in an unfair or deceptive trade practice within the meaning of Title 13 of this article; and

            (ii)    Is subject to the enforcement and penalty provisions contained in Title 13 of this article, except § 13–411.

    (b)    A violation of this subtitle does not constitute a violation of any other subtitle of this title.



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