(a) Notwithstanding any other provision of law, including this title, any grant of a security interest in or assignment of a mortgage to any State or federal government agency or instrumentality, including the Maryland Deposit Insurance Fund Corporation, a federal reserve bank, or a federal home loan bank, by any savings and loan association is fully perfected and takes priority to the extent of the association’s interest in the mortgage over all other claims and creditors with respect to any such mortgage in the possession or control of that State or federal government agency or instrumentality.
(b) The State or federal government agency or instrumentality receiving a grant of a security interest in or assignment of a mortgage by a savings and loan association pursuant to subsection (a) of this section shall give prompt notification thereof to the State or federal agency that issued the charter to the association.
Structure Maryland Statutes
Title 7 - Mortgages, Deeds of Trust, and Vendor's Liens
Subtitle 1 - Mortgages and Deeds of Trust
Section 7-102 - Necessity for Recitation of Secured Amount; Priority of Future Advances
Section 7-103 - Presumption of Ownership of Notes
Section 7-104 - Priority of Purchase-Money Mortgage or Deed of Trust
Section 7-105.1 - Residential Property Foreclosure Procedure; Mediation
Section 7-105.2 - Notice of Foreclosure -- Procedure
Section 7-105.3 - Notice and Disclosure Requirements for Foreclosure Sales
Section 7-105.6 - Interest Payable After Sale in Certain Counties
Section 7-105.7 - Secured Party May Purchase at Sale
Section 7-105.8 - Rights and Remedies as Between Purchasers and Tenants
Section 7-105.9 - Effect of Foreclosure on Annual Crops
Section 7-105.10 - Effect of Order for Resale on Default
Section 7-105.11 - Notice to Occupants of Residential Property in Foreclosure Action
Section 7-105.12 - Right to Collect Rent From Bona Fide Tenant in Possession
Section 7-105.13 - Certificate of Vacancy or Certificate of Property Unfit for Human Habitation
Section 7-105.14 - Internet-Based Foreclosed Property Registry
Section 7-105.15 - Foreclosure -- Legislative Powers Regarding Notice or Regulations
Section 7-105.16 - Foreclosure Sale of Residential Property
Section 7-105.17 - Motion for Deficiency Judgment
Section 7-105.18 - Expedited Foreclosure for Vacant and Abandoned Property
Section 7-106 - Releases; Continuation Statements
Section 7-107 - Payment of Property Taxes by Lender
Section 7-108 - Incorporation by Reference
Section 7-109 - Lenders Required to Disburse Certain Purchase Money Loans at Closing
Section 7-112 - Priority of Refinance Mortgage Over Junior Liens