# COMAR Title 05 — Department of Housing and Community Development

## Subtitle 06 — Housing Insurance

### Chapter 09 — Business Reserve Insurance

#### Regulation .08 Default Procedures.

*COMAR 05.06.09.08*

A. The insured lender shall follow the procedures contained in the insurance policy or agreement upon default of an insured mortgage.

B. The Fund may require a lender at any time to assign a delinquent loan to the Fund and file a claim in the full amount of the insurance.

C. The right of the Fund to pursue a borrower for deficiency or loss exists in every case to the extent allowed by law and may be enforced at the discretion of the Fund.

D. The Fund may refuse payment of a claim on the basis of fraud, misrepresentation, or material error or omission with respect to any claim.