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 4-251 – 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 4-237 – Mortgage Purchases and Loans
(a) The Administration may: (1) purchase or commit to purchase, from a mortgage lender that is eligible under § 4–236 of this subtitle, a note, mortgage, or partial interest in a note or mortgage that evidences: (i) a residential mortgage loan to a family of limited income; (ii) a mortgage loan to a sponsor of a community development project […]
Section 4-238 – Commitment to Purchase Mortgage Loans
(a) (1) New mortgage loans that the Administration purchases shall be loans to: (i) families of limited income; (ii) sponsors of community development projects; or (iii) homeowners: 1. with primary residences located in sustainable communities; 2. who refinance a residential mortgage loan made by the Department or Administration; or 3. who use the loan proceeds to: A. purchase the homeowner’s primary residence and make […]
Section 4-239 – Loans to Eligible Mortgage Lenders
(a) (1) A loan from the Administration to an eligible mortgage lender shall require the eligible mortgage lender to make mortgage loans in principal amounts that add up to at least the amount of the loan from the Administration to: (i) families of limited income; or (ii) sponsors of community development projects. (2) After receiving the loan from the Administration, […]
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.