Skip to main content
Find a Lawyer

Maryland Code, Housing and Community Development § 4-805

Current as of January 01, 2025 | Updated by Findlaw Staff

The Department may:

(1) contract for services related to the Program;

(2) contract with private mortgage servicers to perform on behalf of the Department functions the servicers ordinarily perform, including foreclosure and employment of counsel;

(3) require payment of a nonrefundable application fee;

(4) purchase or commit to purchase from mortgage lenders notes or mortgages that meet the requirements of this subtitle, any regulations adopted under it, and appropriate Program directives; and

(5) without approval or execution by the Board of Public Works:

(i) assign a mortgage for value;

(ii) release a mortgage;

(iii) foreclose a mortgage;

(iv) acquire property that secures a loan in default;

(v) encumber, sell, or otherwise dispose of property acquired in connection with a loan in default;

(vi) sell a loan at a discount or on other terms acceptable to the Department;

(vii) transfer to the Fund money received on the sale of a loan under item (vi) of this item; and

(viii) repurchase or pay the cost of servicing a loan that has been sold under item (vi) of this item with money in the Fund and on terms acceptable to the Department.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Maryland Code, Housing and Community Development § 4-805 - last updated January 01, 2025 | https://codes.findlaw.com/md/housing-and-community-development/md-code-hous-and-cmty-dev-sect-4-805/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard