Md. Code Regs. 05.03.06.01

Current through Register Vol. 51, No. 24, December 2, 2024

Section 05.03.06.01 - General

A. These regulations prescribe the policies, procedures, and authorizations to make or purchase loans financed through the Special Purpose Investment Fund (SPIF) of the Community Development Administration.

B. The Special Purpose Investment Fund was created and established by the Single Family Program General Bond Certificate to provide for investments by the Administration using funds that are not proceeds of bonds of the Administration.

C. The Mortgage Yield Account was created as the initial account within the Fund to provide for the financing of mortgage loans to bear interest at rates that achieve yields required for attribution to other investments made under the General Bond Certificate. Other accounts may be established within the Fund in accordance with the General Bond Certificate and the Act.

Md. Code Regs. 05.03.06.01