2652

LAWS OF MARYLAND

[Ch. 552

AUTHORITY IN THE COLLATERAL, OR IN ANY ADDITIONS TO,
SUBSTITUTIONS FOR, OR PROCEEDS FROM THE COLLATERAL.

(G) THE LIEN AND TRUST FOR THE BENEFIT OF THE
AUTHORITY IS BINDING FROM AND AFTER THE TIME [[MADE]] IT
HAS BEEN FILED AS PROVIDED IN SUBSECTION (F) AGAINST ALL
PARTIES HAVING CLAIMS OF ANY KIND IN TORT, CONTRACT, OR
OTHERWISE AGAINST THE MORTGAGE LENDER. THE AUTHORITY MAY
ESTABLISH ADDITIONAL REQUIREMENTS AS IT DEEMS NECESSARY
WITH RESPECT TO THE PLEDGING, ASSIGNING, SETTING ASIDE,
OR HOLDING OF COLLATERAL, THE MAKING OR SUBSTITUTIONS FOR
IT OR ADDITIONS TO IT, AND THE DISPOSITION OF INTEREST
AND INCOME FROM IT.

(H) LOANS TO MORTGAGE LENDERS AND THE COLLATERAL
FOR SUCH LOANS ARE NOT SUBJECT TO THE PROVISIONS OF §§
21, 21A AND 22 OF ARTICLE 95 OF THE ANNOTATED CODE OF
MARYLAND.

(I) THE AUTHORITY MAY REQUIRE AGREEMENT BY MORTGAGE
LENDERS, AS A CONDITION OF THEIR PARTICIPATION, TO THE
PAYMENT OF PENALTIES TO THE AUTHORITY FOR THE VIOLATION
BY THE MORTGAGE LENDER OF:

(1)   THE PROVISIONS [[FOR]] OF THIS SECTION;

OR

(2)    APPLICABLE RULES AND REGULATIONS OF THE
AUTHORITY; OR

(3)    CONTRACTUAL UNDERTAKINGS MADE TO THE
AUTHORITY.

THESE PENALTIES ARE IN ADDITION TO ANY OTHER
RIGHTS WHICH THE AUTHORITY HAS, AND THE AUTHORITY MAY SUE
TO RECOVER THEM IN THE CIRCUIT COURT FOR ANNE ARUNDEL
COUNTY.]]

[[465]] 464. MORTGAGE PURCHASE PROGRAM.

(A)   THE AUTHORITY IS AUTHORIZED TO PARTICIPATE WITH
MORTGAGE LENDERS IN THE MAKING OF NEW HOME MORTGAGE LOANS
AND TO PURCHASE FROM MORTGAGE LENDERS NEW HOME MORTGAGE
LOANS AND INTERESTS IN THEM ORIGINATED AND HELD BY THE
MORTGAGE LENDERS, UPON TERMS AND CONDITIONS ESTABLISHED
BY THE AUTHORITY.

(B)   THE AUTHORITY IS AUTHORIZED TO PURCHASE FROM
MORTGAGE LENDERS HOME MORTGAGE LOANS AND INTERESTS IN
THEM ORIGINATED AND HELD BY THE MORTGAGE LENDERS, UPON
TERMS AND CONDITIONS ESTABLISHED BY THE AUTHORITY.

(C)    THE AUTHORITY SHALL NOT PARTICIPATE IN OR
PURCHASE HOME MORTGAGE LOANS UNLESS THE ESTIMATED CASH