(a) The department may

1. (1) adopt regulations necessary to carry out its functions under AS 44.29.210 — 44.29.230 and to administer the program required under 42 U.S.C. 300x-4(a), including regulations to establish reasonable fees for services provided, procedures for foreclosure proceedings, and procedures for collecting delinquent accounts;
2. (2) establish amortization plans for the repayment of loans;
3. (3) charge and collect the fees established under this subsection; and
4. (4) contract for the servicing of loans made under AS 44.29.210.