A child placement agency shall file a written report with a court with jurisdiction over a child whenever: the child placement agency fails to place the child for adoption with a preadoptive parent, as defined in § 3-823(i)(1) of the Courts Article: within 270 days after being awarded guardianship; or within 180 days after permanently removing the child from another placement; or a court does not enter a final order of adoption within 2 years after the placement. A report under this subsection shall state each reason for the delay in placement or adoption. Whenever a child placement agency files a report under this section, the child placement agency shall mail notice of the child’s status: to each of the child’s living parents who has not waived the right to notice and, if represented, counsel; and if a court appointed counsel for the child under this subtitle, to the child’s last attorney of record. A waiver of rights under this subsection is not valid unless the waiver appears expressly in: the parent’s consent to guardianship; and the guardianship order. Whenever a court receives a report under this section, the court shall hold a hearing to: review the progress that the child placement agency has made toward adoption of the child; and take all actions that the court considers to be in the child’s best interests. Each year after a hearing under paragraph (1) of this subsection until the court’s jurisdiction terminates, the court shall hold another review hearing.