Code of Maryland Regulations
Title 05 - DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
Subtitle 04 - SPECIAL LOAN PROGRAMS
Chapter 05.04.10 - Home and Energy Loan Program
Section 05.04.10.10 - Participation of Political Subdivision
Current through Register Vol. 50, No. 25, December 15, 2023
A. Political subdivisions or public utility companies may be authorized as agents of the Administration if they evidence the staff capacity and capability to evaluate loan applications and monitor rehabilitation undertaken pursuant to the loans.
B. Political subdivisions or public utility companies seeking approval as agents shall submit a written application to the Administration on a form prescribed by the Administration specifying:
C. Political subdivisions or public utility companies approved as agents of the Administration shall perform the following functions on behalf of the Administration:
D. Political subdivisions or public utility companies approved as agents shall agree in writing to perform the functions in §C, above, in conformance with these regulations, the appropriate Program handbooks, and other procedures prescribed by the Administration.
E. Political subdivisions or public utility companies approved as agents shall be required to secure the approval of the Administration or loan insurer, as applicable, before a loan is approved.
Regulations .10 adopted
as an emergency provision effective June 1, 1983 (10:12 Md. R. 1065); emergency
status extended at 10:25 Md. R. 2262
Regulations .10 adopted
effective December 5, 1983 (10:24 Md. R. 2184)