§ 4-241
91 words·~1 min read·
/md/housing-and-community-development/4-241A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§4–241.
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.