Sec. 05.01.07.03. Scope

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A. The Housing Finance Review Committee reviews and makes recommendations for, but does not approve, certain loans by the Department's Division of Development Finance as well as mortgage insurance provided by the Maryland Housing Fund, an agency in the Division of Credit Assurance.

B. In addition, the Committee reviews and recommends actions to the Secretary on all project financing and investment policies of the Community Development Administration, an agency in the Division of Development Finance.

C. The Bond Advisory Board established under COMAR 05.01.08 reviews and makes recommendations to the Department regarding the issuance of securities, as well as the policies and procedures used by the Department in the issuance of securities.

D. The Secretary, or a designee of the Secretary, shall approve each loan commitment, insurance policy, or bond financing of the Department, the Division of Credit Assurance, the Division of Development Finance, the Maryland Housing Fund, and the Community Development Administration.

                    
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