Code of Maryland Regulations
Title 09 - MARYLAND DEPARTMENT OF LABOR
Subtitle 03 - COMMISSIONER OF FINANCIAL REGULATION
Chapter 09.03.06 - Mortgage Lending
Section 09.03.06.03 - Delivery and Receipt of Mortgage Disclosures
Universal Citation: MD Code Reg 09.03.06.03
Current through Register Vol. 51, No. 19, September 20, 2024
A. A licensee shall be deemed to have complied with a requirement under Commercial Law Article, Title 12, Subtitles 1, 3, 4, 8, 9, or 10, Annotated Code of Maryland, to provide a written disclosure or agreement within a specified time period after the date the loan application is completed if the mortgage disclosure or agreement is provided to an applicant in person, or placed in the mail, before the end of the time period specified in the applicable statute.
B. Electronic Disclosures.
(1) Mortgage disclosures required by
Commercial Law Article, Title 12, Subtitles 1, 3, 4, 8, 9, 10, 12, or 13,
Annotated Code of Maryland, may be provided to an applicant in electronic form,
subject to compliance with the consumer consent and other applicable provisions
of the Electronic Signatures in Global and National Commerce Act (15 U.S.C. § 7001 et seq.) and the Maryland Uniform
Electronic Transactions Act (Commercial Law Article, Title 21, Annotated Code
of Maryland).
(2) For the purpose
described in §A of this regulation, unless otherwise agreed between the
licensee and an applicant, the time of sending and receipt of a mortgage
disclosure sent as an electronic record shall be governed by Commercial Law
Article, §21-114, Annotated Code
of Maryland.
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