(a) (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.
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