Md. Code Regs. 05.20.03.06

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

Section 05.20.03.06 - Program Administration

A. The Department may establish from time to time detailed program guidelines containing application schedules, procedures, underwriting standards, processing requirements, and other requirements or matters relating to the program.

B. The Department may establish fees related to the processing of applications, underwriting, and servicing of financial assistance.

C. The Department shall ensure that program guidelines, fee information, and application forms are publicly available on its website and at its offices.

D. After financial assistance has been awarded to a recipient of financial assistance, the Department may:

(1) Determine specific terms and conditions, including length of term and rate of interest, for the financial assistance, which may be awarded as grants, recoverable grants, unsecured loans, or loans secured by a mortgage or other lien or security interest, including a security interest that may be superior or subordinate to other mortgages, liens, or other security interests on the collateral;

(2) Require and obtain appraisals, credit information, and other information related to making loans and enforcing the terms and conditions;

(3) Enforce the terms of grants, loans, or other financial assistance according to their terms and conditions;

(4) Commence and pursue any action to protect or enforce any right conferred by law, contract, or other agreement;

(5) Modify any provision of any grant, loan, or other financial assistance in order to facilitate the successful completion or operation of a project; and

(6) Exercise all powers authorized under the Act that are necessary or desirable for the implementation of the Program.

Md. Code Regs. 05.20.03.06

Regulation .06 adopted effective 44:16 Md. R. 808, eff. 8/14/2017