Current through Register Vol. 51, No. 24, December 2, 2024
Section 05.06.06.11 - Termination of InsuranceMaryland Housing Fund insurance coverage may be terminated by the Fund at its discretion under the following conditions:
A. The lender requests in writing cancellation of the insurance;B. A claim is satisfied by the Fund;C. The mortgage loan is paid in full;D. A renewal premium is not paid after receipt of written notice from the Maryland Housing Fund;E. Failure of the lender to comply with these regulations, the servicing manual provided by the Fund, or the Fund's primary or pool insurance policy, as applicable;F. Modification of mortgage terms without the Fund's prior approval; orG. Other action with respect to a defaulted mortgage loan without the Fund's prior approval.Md. Code Regs. 05.06.06.11