and Licensing and Regulation, as well as the Direc-
tor on Aging.

MARYLAND AFFORDABLE HOUSING TRUST
Alice G. Pinderhughes, Esq., Chairperson, 1996

Staff: Robert P. Goodman;
Valerie M. Gonlin (410) 514-7179

The Maryland Affordable Housing Trust was con-
stituted in 1992 to enhance the availability of afford-
able housing throughout the State (Chapter 265, Acts
of 1992). A public instrumentality of the State, the
Trust may receive monies for investment in the Mary-
land Affordable Housing Trust Fund. From this Fund,
the Trust may make awards to support: the acquisi-
tion, construction, rehabilitation, or preservation of
affordable housing; the efforts of nonprofit organiza-
tions to develop affordable housing; and operating
expenses of housing developments in the promotion
of affordable housing.

The Trust consists of fourteen members. Eleven
voting members are appointed to four-year terms
by the Governor with Senate advice and consent.
Three non voting members include the Secretary of
Housing and Community Development; a senator
appointed by the Senate President; and a delegate
appointed by the House Speaker (Code 1957, Art.
83B, secs. 11-101 through 11-107).

DIVISION OF FINANCE &
ADMINISTRATION

Stephen D. Silver, Director
Robert P. Goodman, Deputy Director

100 Community Place
Crownsville, MD 21032 (410) 514-7100

The Division of Finance and Administration,
formerly the Division of Finance, received its pre-
sent name in 1992. For the Department, the Divi-
sion oversees financial management; research;
automated information systems; and central sup-
port services for telecommunications, facilities, and
fleet management.
The Division provides advice and technical sup-
port in fiscal matters to the Department's senior
program directors and managers. The Division ac-
counts for Department expenditures and revenues;
manages the capital and operating budgets; proc-
esses contracts, purchasing and procurement re-
quests; maintains the Department's automated
budgetary accounting system; and provides finan-
cial analytical review and audit services.

DIVISION OF HOUSING CREDIT
ASSURANCE

Earl DeMaris, Director

100 Community Place
Crownsville, MD 21032 (410) 514-7350

The Division of Housing Credit Assurance was
formerly the Division of Housing Insurance. The
Division received its present name in 1990 (Chapter
321, Acts of 1990). The Division is responsible for
the Maryland Housing Fund.

MARYLAND HOUSING FUND
Earl DeMaris, Director
Vacancy, Deputy Director

100 Community Place
Crownsville, MD 21032 (410) 514-7350

The Maryland Housing Fund was established in
1971 (Chapter 669, Acts of 1971). Its primary
objective is to assist State citizens of all income levels
through a program of mortgage insurance and
other credit enhancements for the construction of
housing, rehabilitation, energy conservation, solar
energy, public purpose, and infrastructure projects.
The Fund uses a variety of innovative mortgage
insurance programs to stimulate the flow of private
investment capital into the State for this purpose.
The Fund operates through a large number of
public and private lenders across the State as well
as local housing agencies (Code 1957, Art. 83B,
secs. 3-201 through 3-205).

CREDIT ASSURANCE REVIEW COMMITTEE

Mark Sissman, Chairperson

The Governor established the Credit Assurance
Review Committee in December 1993 (COMAR
05.06.05). The Committee advises the Maryland
Housing Fund on the Fund's credit assurance pro-
grams. The Committee alerts the Fund to new
programs for housing insurance or credit assurance
or to innovative means of using existing programs.
The Committee also recommends methods of mak-
ing the best use of Fund resources for the benefit of
State residents and raising capital to support insur-
ance reserves or programs through public or private
sources.
For underwriting the insurance of mortgage
loans and managing the insured loan portfolio, the
Committee advises the Fund on what policies and
criteria should be used. In addition, the Committee
counsels the Fund on the structuring of its credit
assurance programs to maintain the fiscal integrity
of the Fund and of the reserve backing for each
program.