Except as required to qualify for insurance or guaranty by the federal government, a residential mortgage loan may not be assigned to or assumed by a person not qualified under the appropriate Administration program if the residential mortgage loan is:
(1) a new loan that the Administration purchases or in which the Administration purchases an interest;
(2) a loan made with the proceeds of purchase by the Administration of a residential mortgage; or
(3) a loan made with the proceeds of a loan from the Administration to a mortgage lender.
Structure Maryland Statutes
Housing and Community Development
Division I - Housing and Community Programs
Title 4 - Division of Development Finance
Subtitle 2 - Community Development Administration
Section 4-225 - Financing Procedures -- in General
Section 4-226 - Financing Procedures -- Powers of Administration
Section 4-227 - Energy Conservation and Solar Energy Financing
Section 4-228 - Infrastructure Financing
Section 4-229 - Infrastructure Financing -- Local Obligations
Section 4-230 - Issuing Procedures of Local Obligations
Section 4-231 - Contents of Enabling Resolution or Ordinance
Section 4-232 - Authorization of Resolution or Ordinance
Section 4-232.1 - Pledge by County to Secure Local Obligations
Section 4-233 - Pledges Securing Local Obligations
Section 4-233.1 - Capital Reserve Fund
Section 4-234 - Guarantee of Loans
Section 4-235 - Mortgage Loans and Reverse Equity Mortgage Loans
Section 4-236 - Mortgage Lenders
Section 4-237 - Mortgage Purchases and Loans
Section 4-238 - Commitment to Purchase Mortgage Loans
Section 4-239 - Loans to Eligible Mortgage Lenders
Section 4-240 - Certificate of Mortgage Lender
Section 4-241 - Assignment and Assumption of Residential Mortgage Loans
Section 4-242 - Priority to Selling Residential Property Owned by Administration