Md. Code Regs. 05.04.09.20

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

Section 05.04.09.20 - Program Administration

A. Funding. The Department shall publicize from time to time the availability of moneys to make loans. However, the Department may consider an application for a loan or may establish beginning and ending dates for the receipt of applications.

B. Program Guidelines. The Department may establish from time to time detailed Program guidelines containing underwriting standards, loan processing requirements, and other requirements or matters relating to the financing of loans or to the Program. Copies of these guidelines shall be available for examination at the Department's principal office. The Department, upon request, shall provide copies to the public for a reasonable charge.

C. Fees. The Department may:

(1) Charge any commitment fees, application fees, closing fees or other fees, charges, or penalties to applicants, servicers, borrowers, or other individuals or entities that participate in the Program; and

(2) Restrict the fees and charges that servicers or other Program participants obtain from borrowers or applicants.

D. Delegation. The Secretary may delegate to the Director of the Division of Development Finance of the Department, the Program Director, or any other official or employee of the Department or the Program the authority to execute or approve any Program documents or loan documents, including loan commitments and eligibility letters.

E. Waiver. The Secretary may waive or vary particular provisions of these regulations to the extent that the waiver is not inconsistent with the Act, if in the written determination of the Secretary:

(1) Conformance to the requirements of any federal, state, or local programs in connection with providing financing to the project necessitates waiver or variance of a regulation; or

(2) The application of a regulation in a specific case or in an emergency situation would be inequitable or contrary to the purposes of the Act.

Md. Code Regs. 05.04.09.20

Regulations .20 adopted effective May 25, 1992 (19:10 Md. R. 929)
Regulation .20D amended effective November 29, 1999 (26:24 Md. R. 1856)