Code of Maryland Regulations
Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
Subtitle 03 - HOMEOWNERSHIP PROGRAMS
Chapter 05.03.05 - Reverse Equity Mortgage Program
Section 05.03.05.11 - False Statements
Universal Citation: MD Code Reg 05.03.05.11
Current through Register Vol. 51, No. 6, March 22, 2024
A borrower who knowingly makes or causes to be made any material misstatement or material omission of fact, whether in the nature of an understatement or overstatement of financial condition or any other fact material to the Department's action, in any statement or report in or regarding an application for a loan, a borrower recertification, or an equity payment request, or affecting an equity payment already made, shall be subject to immediate acceleration of the loan, in addition to the criminal penalties authorized by Housing and Community Development Article, § 4-816, Annotated Code of Maryland.
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