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PARRIS N. GLENDENING, Governor
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Ch. 271
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(2) The death of one of the joint tenants.
[(f)] (G) "Program" means the Settlement Expense Loan Program.
2-1005.
(b) The Department may:
(1) Charge application fees or other fees to loan applicants or lenders;
(2) Purchase, or make commitments to purchase, loans made by
mortgage lenders in conformity with this subtitle and with any regulations or
directives issued by the Department;
(3) Enter into contracts with third parties who would make or service
mortgage loans made, on behalf of the Department, in accordance with this subtitle;
(4) Subject to subsection (c) of this section, acquire any property securing
a loan made under this subtitle by gift, purchase, foreclosure, or otherwise, and sell or
otherwise dispose of the property or interest in the property;
(5) Subject to subsection (a) of this section, delegate to local jurisdictions
any administrative or operational elements of the Program; [and]
(6) Take any other action necessary or convenient for the effective
operation of the Program; AND
(7) REQUIRE LOCAL JURISDICTIONS THAT ADMINISTER A SETTLEMENT
EXPENSE LOAN PROGRAM TO INFORM THE DEPARTMENT OF HOMEBUYER
EDUCATION OR HOUSING COUNSELING REQUIREMENTS.
2-1008.
(A) EXCEPT AS PROVIDED IN SUBSECTION (B) OF THIS SECTION, A PROGRAM
LOAN RECIPIENT IS REQUIRED TO SHALL COMPLETE HOMEBUYER EDUCATION OR
HOUSING COUNSELING.
(B) A PROGRAM LOAN RECIPIENT IS NOT REQUIRED TO COMPLETE
HOMEBUYER EDUCATION OR HOUSING COUNSELING IF THE LOCAL JURISDICTION IN
WHICH THE PROGRAM LOAN RECIPIENT WILL BE UTILIZING UTILIZE THE LOAN DOES
NOT ADMINISTER A SETTLEMENT EXPENSE LOAN PROGRAM THAT REQUIRES
HOMEBUYER EDUCATION OR HOUSING COUNSELING, A PROGRAM LOAN RECIPIENT
SHALL COMPLETE HOMEBUYER EDUCATION OR HOUSING COUNSELING THAT MEETS
THE STANDARDS ESTABLISHED BY THE DEPARTMENT.
(C) IF AN INDIVIDUAL IS REQUIRED TO COMPLETE HOMEBUYER EDUCATION
OR HOUSING COUNSELING, IT MUST CONFORM TO THAT OF IF THE LOCAL
JURISDICTION IN WHICH THE PROGRAM LOAN RECIPIENT WILL UTILIZE THE LOAN
ADMINISTERS A SETTLEMENT EXPENSE LOAN PROGRAM THAT REQUIRES
HOMEBUYER EDUCATION OR HOUSING COUNSELING. THE PROGRAM LOAN
RECIPIENT SHALL COMPLETE THE MORE STRINGENT OF THE DEPARTMENT'S OR THE
LOCAL JURISDICTION'S HOMEBUYER EDUCATION OR HOUSING COUNSELING
REQUIREMENTS IN BOTH TIMING AND CONTENT.
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- 2081 -
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