§ 3–201
Statutes in effect as of October 1, 2026.
Md. Code Ann., Hous. & Cmty. Dev. § 3-201 (2026)
Title 3. Division of Credit Assurance
Subtitle 2. Maryland Housing Fund
§ 3–201LinkCopy Citation
(a)
In this subtitle the following words have the meanings indicated.
(b)
“Business project” has the meaning stated in § 4–201 of this article.
(c)
“Credit enhancement” means a guarantee, including a guarantee of an obligation backed by a pool of mortgages, or other assurance or security device issued to:
(1)
improve the credit of a qualified borrowing entity; or
(2)
upgrade the security or rating of a financial obligation, including:
(i)
a mortgage backed security;
(ii)
a certificate of participation; and
(iii)
a bond or note issued to finance a development activity described in this subtitle.
(d)
“Energy conservation project” has the meaning stated in § 4–201 of this article.
(e)
“Financing” includes acquisition financing, permanent financing, short–term bridge financing, construction financing, and refinancing of a loan or project authorized under this subtitle.
(f)
“Fund” means the Maryland Housing Fund.
(g)
“Housing” includes:
(1)
a single dwelling unit;
(2)
a multiple dwelling unit;
(3)
an accessory unit residential facility;
(4)
a shared–living unit facility, accommodating at least two individuals or families, in which some or all of the living, dining, kitchen, or sanitary facilities are shared; and
(5)
an ancillary commercial or other facility that is related to, incidental to, and supportive of the housing.
(h)
“Infrastructure project” has the meaning stated in § 4–201 of this article.
(i)
“Mortgage” includes:
(1)
a deed of trust, a security agreement, and a pledge; and
(2)
any other security arrangement securing a loan, including a mortgage, to finance:
(i)
the purchase of stock or membership in a cooperative ownership housing corporation; or
(ii)
the construction or rehabilitation of dwelling units in a cooperative ownership housing corporation.
(j)
“Public purpose project” has the meaning stated in § 4–201 of this article.
(k)
“Solar energy project” has the meaning stated in § 4–201 of this article.