Code of Maryland Regulations
Title 09 - MARYLAND DEPARTMENT OF LABOR
Subtitle 03 - COMMISSIONER OF FINANCIAL REGULATION
Chapter 09.03.11 - Recordation of Security Instruments for Residential Property
Section 09.03.11.01 - Definitions
Universal Citation: MD Code Reg 09.03.11.01
Current through Register Vol. 51, No. 19, September 20, 2024
A. In this chapter, the following terms have the meanings indicated.
B. Terms Defined.
(1) "Mortgage lender licensee" means a person
licensed under Financial Institutions Article, §§11-501
-11-524, Annotated Code of Maryland.
(2) "Mortgage loan" means any loan or
extension of credit secured by residential property.
(3) "Mortgage loan originator licensee" means
an individual licensed under Financial Institutions Article, §§11-601
-11-618, Annotated Code of Maryland.
(4) "Nationwide Mortgage Licensing System and
Registry (NMLSR)" has the meaning stated in Financial Institutions Article,
§11-501,
Annotated Code of Maryland.
(5)
"Residential property" has the meaning stated in Real Property Article, §3-104.1, Annotated Code
of Maryland.
(6) "Security
instrument" means a mortgage, deed of trust, or any other instrument securing a
mortgage loan.
(7) Single Family
Dwelling Unit.
(a) "Single family dwelling
unit" means a structure principally designed for the residential habitation of
one family.
(b) "Single family
dwelling unit" includes an individual residential condominium unit within a
larger structure or complex, regardless of the total number of individual units
in that structure or complex.
(c)
"Single family dwelling unit" does not include a structure that:
(i) Is not intended, and has never been used,
for human habitation; or
(ii) Is
intended for human habitation, has never been occupied, but for which a use and
occupancy permit, if required, has never been issued.
(8) "Unique identifier" has the
meaning stated in Financial Institutions Article, §11-601,
Annotated Code of Maryland.
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