1400                                      LAWS OF MARYLAND                                    Ch. 501

(G) "MORTGAGE LENDER" MEANS A BANK, TRUST COMPANY,
SAVINGS INSTITUTION, SAVINGS AND LOAN ASSOCIATION, NATIONAL
BANK ASSOCIATION, MORTGAGE BANKER, OR OTHER FINANCIAL
INSTITUTION THAT MAINTAINS AN OFFICE IN THIS STATE AND
ENGAGES IN MAKING OR ORIGINATING RESIDENTIAL MORTGAGE LOANS,
ANY INSURANCE COMPANY THAT IS AUTHORIZED TO TRANSACT
BUSINESS IN THIS STATE, AND THE MARYLAND HOME FINANCING
PROGRAM.

(I) "RESIDENTIAL MORTGAGE LOAN" MEANS A LOAN OF
MONEY, INCLUDING A TEMPORARY LOAN OR ADVANCE, THAT IS
SECURED BY A MORTGAGE OF REAL PROPERTY LOCATED IN THIS STATE
AND IMPROVED BY A RESIDENTIAL BUILDING OR UNIMPROVED, IF THE
PROCEEDS OF THE LOAN ARE TO BE USED TO ERECT A RESIDENTIAL
BUILDING.

266DD-6.

(c) The Administration may borrow money and issue
bonds or notes to provide funds for making or participating
in making mortgage loans for any community development
project, meeting any development cost, PURCHASING A
RESIDENTIAL MORTGAGE LOAN, OR INTEREST IN THE LOAN, MAKING A
LOAN TO A MORTGAGE LENDER, MAKING A RESIDENTIAL MORTGAGE
LOAN TO A FAMILY OF LIMITED INCOME, or achieving any other
of its purposes. Every issuance of bonds or notes shall be
pursuant to a determination that the issuance is necessary
to achieve one or more purposes of the Administration, The
determination shall be made by the Director of the
Administration or by any person designated by the Secretary
of Economic and Community Development, and approved by the
Secretary of Economic and Community Development. The
determination is effective upon that approval, without any
other proceeding, action, or approval, and is conclusive of
the matters determined therein.

266DD-8.

(A) THE ADMINISTRATION MAY:

(1)    PURCHASE OR MAKE A COMMITMENT TO PURCHASE,
FROM MORTGAGE LENDERS, NOTES OR MORTGAGES OR PARTIAL
INTERESTS IN NOTES OR MORTGAGES THAT EVIDENCE RESIDENTIAL
MORTGAGE LOANS;

(2)    FUND, IN WHOLE OR IN PART, A MORTGAGE
PURCHASE PROGRAM AND A LOAN TO MORTGAGE LENDERS PROGRAM,
WITH PROCEEDS OF ITS REVENUE BONDS OR NOTES; AND

(3)    TAKE ANY ACTION NECESSARY OR CONVENIENT TO
CARRY OUT THE PROGRAMS, INCLUDING:

(I) SETTLEMENT OR COMPROMISE OF ANY
OBLIGATION OR DEBT TO IT, SUBJECT TO ANY AGREEMENT KITH
BONDHOLDERS;