{"data":{"id":"us-md/md.-code-housing-and-community-development-4-805","jurisdiction":"us-md","citation":"Md. Code, Housing and Community Development § 4–805","heading":"","body":"The Department may:\n(1) contract for services related to the Program;\n(2) contract with private mortgage servicers to perform on behalf of the Department functions the servicers ordinarily perform, including foreclosure and employment of counsel;\n(3) require payment of a nonrefundable application fee;\n(4) purchase or commit to purchase from mortgage lenders notes or mortgages that meet the requirements of this subtitle, any regulations adopted under it, and appropriate Program directives; and\n(5) without approval or execution by the Board of Public Works:\n(i) assign a mortgage for value;\n(ii) release a mortgage;\n(iii) foreclose a mortgage;\n(iv) acquire property that secures a loan in default;\n(v) encumber, sell, or otherwise dispose of property acquired in connection with a loan in default;\n(vi) sell a loan at a discount or on other terms acceptable to the Department;\n(vii) transfer to the Fund money received on the sale of a loan under item (vi) of this item; and\n(viii) repurchase or pay the cost of servicing a loan that has been sold under item (vi) of this item with money in the Fund and on terms acceptable to the Department.","path":["Article - Housing and Community Development"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=ghs\u0026section=4-805","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:07Z","sha256":"6b7beefaaaadb5cf73ac6b1129a5a816e4f525521900b76d0aa303e317ac3fe4","source_id":"us-md","stale":false,"prev":"us-md/md.-code-housing-and-community-development-4-804","next":"us-md/md.-code-housing-and-community-development-4-806"},"notice":"GroundRules: Original legal text. Not legal advice."}