§ 3–206
Statutes in effect as of October 1, 2026.
Md. Code Ann., Hous. & Cmty. Dev. § 3-206 (2026)
Title 3. Division of Credit Assurance
Subtitle 2. Maryland Housing Fund
§ 3–206LinkCopy Citation
(a)
In offering insurance and other forms of credit enhancement, the Department shall adopt eligibility standards that are reasonable to aid in:
(1)
financing the purchase, construction, or rehabilitation of:
(i)
housing projects;
(ii)
special housing facility projects, consisting of the acquisition, rehabilitation, improvement, renovation, construction, financing, or refinancing of a building that:
(1)
provides common, shared, or independent living, dining, kitchen, sanitary, and sleeping facilities;
(2)
may include supportive services or supervisory live–in personnel for individuals with specialized housing needs; and
(3)
may include nonresidential facilities to serve individuals with special needs who may or may not be residents of the special housing facility;
(iii)
rehabilitation projects, as defined in § 4–901 of this article;
(iv)
energy conservation projects;
(v)
solar energy projects;
(vi)
public purpose projects;
(vii)
infrastructure projects; or
(viii)
business projects; and
(2)
the sale or other transfer of an obligation that is:
(i)
denoted as a bond, note, collateralized obligation, grantor trust, conduit, or other form of security or obligation; and
(ii)
backed directly or indirectly by a mortgage or a payment derived from a mortgage.
(b)
The standards adopted under subsection (a) of this section shall ensure that a lender benefiting from insurance or other credit enhancement provided by the Department is responsible and able to service the loan.
(c)
A determination by the Secretary is conclusive if it relates to the eligibility of a project, facility, or undertaking for:
(1)
insurance or other credit enhancement; or
(2)
other action taken by the Department, in its own name or in the name of the Fund, under this subtitle.