Ch. 389

LAWS OF MARYLAND

2-208.

(a) The Administration may:

(1)  Purchase or make a commitment to purchase, from
mortgage lenders, notes or mortgages or partial interest in notes
or mortgages that evidence:

(I)   [residential] RESIDENTIAL mortgage loans to
families of limited incomes OR PERSONS EMPLOYED BY AN ESSENTIAL
BUSINESS,; or

(II)   [mortgage] MORTGAGE loans to sponsors of
community development projects OR PUBLIC PURPOSE PROJECTS;

(2)  Make loans to mortgage lenders in accordance with
this subtitle;

(3)  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

(4)  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 with bondholders;

(ii) Acquisition of real or personal property,
or interest in the property, by gift, purchase, foreclosure, or
otherwise and sale or other disposition of the property or
interest;

(iii) Obtaining of insurance against loss in
connection with its property and other assets, including mortgage
loans, in the amount and from the insurers that the
Administration considers desirable;

(iv) Entering into contracts to service
mortgage loans or interests in them that the Administration holds
or takes as collateral;

(v) Entering into contracts or commitments that
relate to the exercise of these powers.

8-102.

The Commission shall consist of [11] 15 members who shall be
appointed by the Governor from the various regions of the State
and shall include:

(1) 1 citizen actively engaged in the residential
building industry;

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