§ 1-213
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§1–213.
(1)In this section the following words have the meanings indicated.
(2)“Credit union” has the meaning stated in § 6–101 of this article.
(3)“Savings and loan association” has the meaning stated in § 8–101 of this article.
(b)This section applies only to:
(1)A banking institution;
(2)A credit union;
(3)A savings and loan association;
(4)A community development financial institution; and
(5)A credit grantor regulated under Title 11 of this article.
(c)When evaluating an application for a primary residential mortgage loan or an extension of credit, an entity subject to this section shall:
(1)Adhere to the rules concerning evaluations of applications established under 12 C.F.R. § 1002.6, including consideration of the following verifiable alternative indications of creditworthiness presented or made available to the entity by the applicant:
(i)History of rent or mortgage payments;
(ii)History of utility payments;
(iii)School attendance; and
(iv)Work attendance; and
(2)If the applicant requests, consider other verifiable alternative indications of creditworthiness presented or made available to the entity by the applicant.