A borrower is entitled to a refund of any finder’s fee paid to a mortgage broker if:
(1) The loan transaction is not made to the borrower; or
(2) The borrower exercises his right to rescind the loan transaction under the federal Truth in Lending Act or any similar federal or State law.
Structure Maryland Statutes
Subtitle 8 - Loans -- Finder's Fees
Section 12-802 - Application of Subtitle
Section 12-803 - Prohibited Relationship Between Broker and Lender
Section 12-804 - Fees Mortgage Broker Permitted to Charge
Section 12-805 - Payment of Finder's Fee
Section 12-806 - Refund of Finder's Fee
Section 12-807 - Violation of Subtitle
Section 12-808 - Circumstances Under Which Broker May Not Collect Fee