I have scoured the law and cannot get a straight answer- MD Finan Agree which is required when no commitment...has to be issued at least 72 hours Prior to Closing...

MUST IT BE SIGNED BY THE BORROWER?

I see your frustration--- I found that broker agreements must be signed by borrower, but financing agreement is not specified.

BROKER AGREEMENT No VMP form Broker specific. Finders fees are permitted
only if a written agreement is made between the broker
and borrower. The agreement must be separate and
distinct from any other document. A copy of the
agreement must be signed both by the mortgage broker
and borrower and must be provided within 10 business days
after the loan application is completed (MDCL §12-804 &
12-805). It is advised that this agreement be provided with
the RESPA documents. A Good Faith Estimate will not be
excepted in lieu of this agreement.

Broker Both

COMMITMENTS A Lender must provide a written, specific, binding
agreement between a borrower and a lender which sets
forth the terms of a loan being extended to the borrower
(MD. Comm. Law §12-15(3)).


If any of the terms change from the initial Financing
Agreement a lender is required to provide the borrower 72
hours prior to settlement a “commitment” executed by the
lender. This commitment must state the effective fixed or
initial interest rate that will apply to the loan and restate all
the remaining unchanged provision of the Financing
Agreement (MDCLCA §12-125(C)(1)).
Lender Both

FINANCING AGREEMENT Should any of the terms of the financing agreement
change prior to closing, a lender must issue a commitment
to the borrower seventy-two hours prior to closing. Lender
must sign the commitment (MDCL §12-125(b)(1)).

If the loan is Closed, cancelled or denied before the 10
days is up you are not required to send the financing
agreement to the borrower.


from--


The Compliance Group

thecompliancegroup.net/compmanual/md.pdf

Also found this in a "survey" of md law-- doesn't mention any signature requirement.

4. Financing and Commitment Agreements — Primary Residence Liens
Consumer loans secured by first liens on residential real property occupied by
the owner as his or her primary residence are subject to additional
requirements.

152 Only persons subject to licensing under the Mortgage Lender
Law must comply with these requirements.
A licensee who offers to make or procure such a loan must provide one and
perhaps another written agreement, depending on the circumstances.
A financing agreement must be signed by the licensee and provided to the
loan applicant within 10 days of application. The financing agreement must
include: the term of the loan; principal amount of the loan; an explanation of
the type of mortgage being offered; the rate of interest that will apply to the
loan and, if the rate is subject to change, or is a variable rate, or is subject to
final determination at a future date based on some objective standard, a
specified statement of those facts; the points, if any, to be paid to the lender by
the borrower or the seller, or both; and the term during which the financing
agreement is to remain in effect.
If none of the information required in the financing agreement is subject to
change or future determination during the term of the financing agreement,
that agreement will be a final and binding agreement between the parties (i.e.,
will be a contractually binding offer to make a loan and acceptance of that
loan on the terms stated in that agreement). However, if any provision of the
financing agreement is subject to change or future determination, a second
written agreement, called a commitment, must be provided by the licensee.
The commitment must be signed by the licensee and provided to the borrower
at least 72 hours before disbursement of the loan proceeds. The commitment
must include: the effective fixed interest rate, or the initial interest rate that
will be applied to the loan; and a restatement of all remaining unchanged
provisions of the financing agreement. The commitment will be a binding
agreement as to the terms of the loan being extended to the borrower.153

But even without a requirement, we make it a practice to get them signed.

are banks required to issue a financing agreement?

"Only persons subject to licensing under the Mortgage Lender
Law must comply with these requirements"

I work for a local bank, we issue them. I agree that wording is confusing.