WILLIAM DONALD SCHAEFER, Governor Ch. 220

(3) Discontinuance of use as a group home.

(e) (1) The Department shall adopt regulations which
provide that the terms of a loan to an owner-occupant borrower
shall include, at the option of the borrower, either:

(i) Increases to interest rates as permitted in
subsection (b)(2)(ii) of this section; or

(ii) Limits on the return on equity allowed to
the borrower through an equity participation agreement.

(2) The Department shall adopt regulations that place
limits on the return on equity allowed to a group home sponsor
and that provide procedures for the Department to enter into an
equity participation agreement with a group home sponsor.]

[2-616.

A mortgage shall include the right of the Department to:

(1)  Foreclose the mortgage and at foreclosure:

(i) Take title to the property foreclosed on;
or

(ii) Convey title to a buyer; and

(2)  Obtain and seek enforcement of a deficiency
judgment.]

2-611.

(A)  AS TO EACH LOAN, THE DEPARTMENT MAY SET:

(1)  THE PRINCIPAL AMOUNT, SUBJECT TO SUBSECTION (F)
OF THIS SECTION;

(2)  THE MATURITY, WHICH MAY NOT EXCEED 40 YEARS
EXCEPT IN THE CASE OF REVERSE EQUITY LOANS IN ACCORDANCE WITH
SUBSECTION (B)(3) OF THIS SECTION;

(3)  THE INTEREST RATE, WHICH MAY BE ADJUSTABLE IN
ACCORDANCE WITH SUBSECTION (G) OF THIS SECTION;

(4)  THE PRINCIPAL REPAYMENT TERMS, SUBJECT TO
SUBSECTIONS (B) AND (C) OF THIS SECTION; AND

(5)  SUCH OTHER TERMS AS THE DEPARTMENT DEEMS
NECESSARY TO ACHIEVE THE PURPOSES OF THE PROGRAM.

(B)  A LOAN MAY PROVIDE FOR:

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