1. (1) contract for services related to the Program;
2. (2) contract with private mortgage servicers to perform on behalf of the Department functions the servicers ordinarily perform, including foreclosure and employment of counsel;
3. (3) require payment of a nonrefundable application fee;
4. (4) purchase or commit to purchase from mortgage lenders notes or mortgages that meet the requirements of this subtitle, any regulations adopted under it, and appropriate Program directives; and

5. (5) without approval or execution by the Board of Public Works:

   1. (i) assign a mortgage for value;
   2. (ii) release a mortgage;
   3. (iii) foreclose a mortgage;
   4. (iv) acquire property that secures a loan in default;
   5. (v) encumber, sell, or otherwise dispose of property acquired in connection with a loan in default;
   6. (vi) sell a loan at a discount or on other terms acceptable to the Department;
   7. (vii) transfer to the Fund money received on the sale of a loan under item (vi) of this item; and
   8. (viii) repurchase or pay the cost of servicing a loan that has been sold under item (vi) of this item with money in the Fund and on terms acceptable to the Department.

The Department may:

Added by Acts 2005, c. 26, § 2, eff. Oct. 1, 2005.