Md. Code Regs. 05.06.06.11

Current through Register Vol. 51, No. 24, December 2, 2024
Section 05.06.06.11 - Termination of Insurance

Maryland 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; or
G. Other action with respect to a defaulted mortgage loan without the Fund's prior approval.

Md. Code Regs. 05.06.06.11