Maryland § 12-804
Full text of Maryland Maryland Code § 12-804, with citation guidance and answers to common questions.
§ 12-804.
(a) A mortgage broker may charge a finder’s fee not in excess of 8 percent of the amount of the loan or advance.
(b) In addition to a finder’s fee, a mortgage broker may charge a borrower for the actual cost of:
(1) Any appraisal, credit report, condominium document, or subordination agreement document obtained by the mortgage broker at the written request of the borrower; and
(2) Any other good or service, as specified in regulations adopted by the Commissioner, that is required to complete a loan application process and that, at the written request of the borrower, is paid by the mortgage broker to a third–party provider of the good or service.
(c) A mortgage broker obtaining a mortgage loan with respect to the same property more than once within a 24–month period may charge a finder’s fee if the fee is not in excess of 8% of the initial loan amount when combined with the finder’s fee charged on the initial loan and on any other finder’s fee collected during that 24–month period.
(d) The provisions of this section do not apply to:
(1) The charging of fees and charges otherwise permitted under this title; or
(2) Attorney’s fees unless the attorney is functioning as a mortgage broker.
(e) A mortgage broker may not charge a finder’s fee in any transaction in which the mortgage broker or an owner, part owner, partner, director, officer, or employee of the mortgage broker is the lender or an owner, part owner, partner, director, officer, or employee of the lender.
Frequently Asked Questions About Maryland § 12-804
What does Maryland Code § 12-804 cover?
Section 12-804 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 12-804?
A common citation format is "Maryland Code § 12-804" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 12-804 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.