Section 4-251 – Bonds and Notes Not State Debts
(a) A bond or note issued under this part: (1) is not a debt of and does not pledge the faith, credit, or taxing power of the State, the Administration, or a political subdivision; but (2) is payable only from the revenues and property provided for in this subtitle. (b) Each bond or note shall state on its face […]
Section 4-252 – Tax-Exempt Status
The following are exempt at all times from taxation of every kind and nature whatsoever by the State, a political subdivision, or a governmental unit of any kind: (1) a bond or note that the Administration issues under this part; (2) the transfer of, interest payable on, or income derived from the bond or note; and (3) profit […]
Section 4-253 – Interest Rate Exchange Agreements
To improve the management of debt issued under the provisions of this part or to reduce the cost of servicing the debt, the Administration may enter into interest rate exchange agreements or contracts providing for payments based on levels of or changes in interest rates.
Section 4-255 – False Statements or Reports
(a) A person may not knowingly make or cause to be made a false statement or report in a document required to be submitted to the Administration by an agreement relating to a loan. (b) A person applying for a loan may not knowingly make or cause to be made a false statement or report to influence […]
Section 4-240 – Certificate of Mortgage Lender
(a) Except as provided in subsection (c) of this section, a mortgage lender shall make a certificate under this section for every residential mortgage loan that the lender makes under a purchase commitment by the Administration with: (1) the proceeds of purchase of a mortgage loan by the Administration; or (2) the proceeds of a loan from the […]
Section 4-241 – Assignment and Assumption of Residential Mortgage Loans
Except as required to qualify for insurance or guaranty by the federal government, a residential mortgage loan may not be assigned to or assumed by a person not qualified under the appropriate Administration program if the residential mortgage loan is: (1) a new loan that the Administration purchases or in which the Administration purchases an interest; […]
Section 4-242 – Priority to Selling Residential Property Owned by Administration
In providing financial assistance to a homeowner that includes the purchase of the homeowner’s primary residence and payments on the homeowner’s student loan debt, the Administration shall give priority to selling residential property that is owned by the Administration.
Section 4-244 – Powers of Administration
(a) The Administration may provide financial assistance, meet any development cost, or carry out any other of its purposes by spending: (1) money appropriated by the General Assembly; (2) the proceeds of a State loan to the extent provided by the General Assembly or a governmental unit authorized to issue bonds; (3) the proceeds of the bonds, notes, or […]
Section 4-245 – Authority to Borrow Money and Issue Bonds or Notes
(a) (1) The Administration may: (i) borrow money and issue bonds or notes; and (ii) use the proceeds or the earnings from the investment of the proceeds to provide money to: 1. make, purchase, or participate in making mortgage loans or other loans; 2. purchase securities backed by mortgage loans or other loans; 3. purchase local obligations; 4. meet any development cost; or […]
Section 4-246 – Renewal and Refunding
(a) By written determination, the Administration may provide for the issuance of notes to renew its notes, and bonds to pay its notes or to fund or refund its bonds, whether or not the bonds to be refunded have matured, including the payment of any redemption premium and any interest accrued or to accrue on the […]