Maryland Code, HOUSING AND COMMUNITY DEVELOPMENT 9-404

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. ^{Source: OCC}
Mortgage: The written agreement pledging property to a creditor as collateral for a loan.

To provide community reinvestment assistance, the Board may:

(1) invest in, purchase, make commitments to purchase, or take assignments from mortgage lenders of notes and mortgages evidencing mortgage loans;

(2) act as a guarantor or conduit for mortgage backed securities;

(3) make loans to recipients of community reinvestment assistance or to mortgage lenders;

(4) sell at public or private sale mortgages, loans, or other obligations held by the Fund;

(5) purchase, make, participate in making, or enter into commitments to purchase loans;

(6) package and sell loans; and

(7) do anything else authorized by the organizational documents of the Fund.