(a) If a banking institution rejects an application for a residential mortgage loan, the banking institution shall give the applicant, at the applicant’s request, written notice of the rejection.
(b) The applicant may use this written notice as evidence of rejection for purposes of the Maryland Home Financing Program.
Structure Maryland Statutes
Title 5 - Banking Institutions -- General Provisions
Subtitle 5 - Miscellaneous Regulations
Section 5-503 - Investment in Real Property and Furnishings
Section 5-504 - Additional Banking Activities and Bank-Related Services Authorized
Section 5-506 - Financial Information From Certain Borrowers
Section 5-507 - Notice of Rejection of Application for Residential Mortgage
Section 5-508 - Elimination of Mortgage Insurance Charge When Principal Reduced
Section 5-509 - Federal Deposit Insurance Corporation and Reserve System Memberships
Section 5-511 - Multiple Directorships
Section 5-512 - Loans to Directors, Officers, or Employees
Section 5-513 - Return of Checks for Customers With Truncated Checking Accounts