those that adopted the Standard Building Code of
the Southern Building Code Congress, Inc, must
comply by 1999 Local jurisdictions may amend the
Maryland Budding Performance Standards to meet
local needs The Department of Housing and Corn
munity Development has established and maintains
a central, automated data base that includes the
Maryland Building Performance Standards, local
amendments, the State Fire Prevention Code, local
fire codes, all fire code amendments, and proposed
State or federal legislation that directly affects the
building industry
Provisions to promote energy conservation in
building construction were established by the
Maryland Energy Conservation Building Standards
Act in 1981 (Code 1957, Art 78, sec 54J)

The Building Codes Administration administers
the Safety Glazing Law (Chapter 116, Acts of
1973) The law requires the use of safety glazing in
certain locations for new buildings (Code 1957,
Art 83B, sees 6-301 through 6-306)

FINANCE
Kim M Luquette, Manager
(410) 514-7336

Finance is responsible for daily accounting op-
erations and financial management needs of the
Maryland Housing Fund This includes premium
billings for single and multi-family insured loans,
Maryland Housing Fund originated mortgages
and assigned mortgages, payment of expenses and
insurance claims for acquired properties (non
budgeted), as well as budgeted administrative and
operating expenses and investment of reserves

MULTIFAMILY PROGRAMS
Victoria S Davis, Manager
(410) 514 7325

Mulufamily insurance programs provide longer
mortgage terms than are generally available, reduce
monthly payments for the tenant, and enable higher
loan-to value ratio mortgages for borrowers Mul-
ofamily insurance programs include construction
loans and permanent loans
Construction Loans insure mortgages financing
nonprofit and qualified private developers of new or
rehabilitated housing for families and individuals, the
elderly and the handicapped Only m combination
with permanent mortgage financing are construction
loans msured The Maryland Housing Fund is the
only insurer of construction loans in the State, other
than the Federal Housmg Administration
Permanent Loans insure permanent mortgages
to nonprofit and qualified private developers of new
or rehabilitated housing Permanent mortgage m
surance is provided to multifamily projects for new
construction and rehabilitation, projects receiving

federal subsidies, and market rate projects financed
by eligible issuers of revenue bonds
The Special Housing Opportunities Program
(SHOP) Loans provides mortgage insurance to en
courage the availability of financing to nonprofit agen
cies for group homes to house those with special needs,
including the elderly, and the developmentally and
mentally challenged Mortgage loans finance acquisi-
tion, rehabilitation, or new construction, or refinance
existing private mortgages The Community Develop-
ment Administration is the lender for these programs

SINGLE-FAMILY PR OGRAMS
Stanley H Sanders, Jr , Manager
(410) 514-7300

The Regular Mortgage Insurance Program offers
primary insurance coverage on mortgages of up to
100 percent loan to value ratios on terms provided by
major financial institutions Mortgage insurance pre
rmums are comparable to those charged by private
mortgage insurers This program is approved by the
Federal National Mortgage Association
The Public Mortgage Single familyProgram offers
primary insurance coverage on mortgages of up to
100 percent loan to-value ratios financed by revenue
bond-funded direct mortgages or mortgage purchase
programs of a public agency mortgagee The msur
ance is governed by the Regular Mortgage Insurance
Program regulations, with modifications
The Pool Insurance Program offers insurance cov
enng up to 100 percent of the loss on mortgages where
there is primary coverage The aggregate amount
payable under this coverage is an agreed percentage
(usually 5 to 10 percent) of the initial principal amount
of mortgages financed through a revenue bond senes
The Maryland Housing Fund provides pool insurance
for revenue bonds issued by the Community Develop
ment Administration and other housing agencies
The Revttalization Program provides opportu-
nities to lower the risk of lending by using Maryland
Housing Fund insurance to stimulate the flow of
private mortgage capital into areas where home
ownership has declined In addition, the Program
makes home ownership possible for those without
the resources for property repairs and closing costs,
which otherwise would be required The borrower
must make a minimum cash contribution (at least
$500) based on household income Currently,
there is a risk sharing requirement for lenders par-
ticipating in this program

DIVISION OF DEVELOPMENT
FINANCE

The Division of Development Fmance began in
1987 as the Division of Housing Finance (Chapter
311,Acts of 1987) In 199 5, the Division received its
present name (Chapter 115, Acts of 1995) The