This document is provided pursuant to the provisions of Md. Code Ann., Com. Law §§ 12-125(c) (1), 12-922(c), & 12-1022(c) and Md. Code Regs. 09.03.06.06(c) (2), which requires a lender to provide the borrower with a commitment if any of the provisions of the financing agreement are subject to change or determination after its execution.
This Maryland commitment must be executed by the lender at least 72 hours before the time of settlement, it must provide the effective fixed interest rate or initial interest rate that will be applied to the loan, and it must include a restatement of all the remaining unchanged provisions of the financing agreement.
We will be modifying Cx4174 to more closely resemble the language and format of our standard MD Financing Agreement (Cx2171).
This change will take effect on May 29, 2014. If you have any questions or concerns on this change, please contact Client Support at 1.800.497.3584.
May 22, 2014
Due to the provisions of Md. Code Ann., Com. Law § 12-125(c)(1), we have determined that a lender signature is required for Cx4174. We will be adding a lender signature to the bottom of the document, effective immediately.