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Home / Opinion Digests / No Finder’s Fee Refund for Reverse Mortgage Buyer (access required)

No Finder’s Fee Refund for Reverse Mortgage Buyer (access required)

The purchaser of a loan in a reverse mortgage transaction was not a “mortgage broker” under the Maryland Finder’s Fee Act, and plaintiff borrower cannot recover from the purchaser for allegedly violating the Act by funding the loan under a pre-existing agreement; the 4th Circuit affirms judgment for the lender. Baltimore resident William Marshall borrowed $252,000 ...

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