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Session Laws, 1987
Volume 769, Page 1741   View pdf image
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WILLIAM DONALD SCHAEFER, Governor                   Ch. 311

[(4)] (D) The terms and provisions for livability
rehabilitation loans shall satisfy the requirements of [§
ll-702(c)(6)] § 2-303(G) OF THIS SUBTITLE.

[(j)] 2-310. In addition to loans for rehabilitation
projects to families of limited income made from the fund, the
Department may make grants for rehabilitation projects to
families of limited income, and loans for rehabilitation projects
to families of limited income or to sponsors, or nonprofit
sponsors with funds from any other authorized sources. These
sources may include federal programs of assistance for
rehabilitation, which the Department shall utilize to the maximum
extent consistent with the purposes of this section, and in which
the Department is authorized to do all things necessary to
qualify for participation. The terms and conditions of loans and
grants made pursuant to this paragraph shall be in accord with
the provisions of the legislation or other authority by which the
funds are made available to the Department.

[(k)] 2-311. The Department may:

(1)  In the case of any loans made pursuant to this
[section] SUBTITLE secured by first or junior mortgages, enforce
them according to their terms, foreclose and take title to
properties foreclosed upon, or accept conveyances in lieu of
foreclosure; convey title to purchasers; obtain and enforce
deficiency judgments; permit assumption of mortgages; and
contract with private mortgage servicers to perform functions
ordinarily performed by such servicers, including foreclosures
and the employment of counsel by the servicers, on behalf of the
Department. Approval or execution by the Board of Public Works is
not required to assign mortgages for value, to release mortgages
when paid, to accomplish foreclosures, to accept deeds in lieu of
foreclosures, or to convey property after acquisition[.];

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

(3)  Contract for services relating to any aspect of
the operation of the program in accordance with the procedures
required by law for State contracts;

(4)  Charge and collect reasonable application and
processing fees, and other charges, fees, or reimbursements
incidental to loans;

(5)  Adopt, and amend from time to time, in accordance
with statutory requirements, regulations governing all aspects of
the operation of the program.

[(1)] 2-312. Every person who knowingly makes or causes to
be made any false statement or report for the purpose of
influencing the action of the Department upon any application for

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Session Laws, 1987
Volume 769, Page 1741   View pdf image
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