Md. Code Regs. 05.06.03.01

Current through Register Vol. 51, No. 22, November 1, 2024

Section 05.06.03.01 - General

A. These regulations set forth the policies, procedures, and authorization for:

(1) Insurance by the Maryland Housing Fund (M.H.F.) of 100 percent or less of a mortgage loan for the purchase, or purchase and rehabilitation, of an owner-occupied home with four or less units; and

(2) Agreements with mortgage lenders to share financial risk and insurance fees in connection with certain loans insured by M.H.F.

B. The insurance reserve fund for this Program is the reserve fund established in COMAR 05.06.01.01C(2) for the Revitalization Program. The ratio of the total outstanding amount of insurance provided through the Revitalization Program, to the total amount of the Revitalization Program Reserve Fund, may not exceed the ratio of 10:1.

C. The Revitalization Program was formerly known as the Pilot Program which was governed by COMAR 05.06.01.09C.

Md. Code Regs. 05.06.03.01

Regulation .01B amended effective February 28, 1994 (21:4 Md. R. 273)