1. A. Time and Place. The loan closing shall be scheduled at a time and place mutually acceptable to the applicant and the local administrator, through a closing officer serving the applicant's area and otherwise acceptable to the local administrator.

2. B. Loan Documents.

   1. (1) Loan document forms shall be provided by the Program and may not be altered by the local administrator.
   2. (2) Loan documents shall be executed on behalf of the Department by the officer or employee authorized to do so by the Department.

3. C. Charges and Fees. The Department or the local administrator shall charge and collect from the borrower reasonable and customary amounts acceptable to the Department for the following items:

   1. (1) Credit reports;
   2. (2) Appraisal fees, if applicable;
   3. (3) Recording fees, taxes, and charges, if applicable;
   4. (4) Required survey charges, if applicable;
   5. (5) The cost of title examination and title insurance premiums, if required;
   6. (6) Administrative fees;
   7. (7) The cost of property and judgment reports;
   8. (8) Inspection fees; and
   9. (9) Other reasonable and customary charges or fees authorized by the Department.
4. D. Points may not be charged to the applicant on any loan under the Program.
5. E. Mortgageable Items. Program charges, closing costs, and related costs may be mortgageable items for owner-occupants or for nonprofit sponsors. Sponsors that are not nonprofit organizations are required to pay for closing costs, program charges, and related costs.
6. F. Taxes and Assessments. Taxes and assessments against the property which are due and payable shall be paid at or before closing.

Authority: Housing and Community Development Article, §§4-910 and 4-927, Annotated Code of Maryland

Effective date:

Regulations .01—.15 adopted as an emergency provision effective August 28, 1986 (13:20 Md. R. 2193); emergency status extended at 14:2 Md. R. 123; emergency status expired March 1, 1987

Regulations .01—.15 adopted effective March 1, 1987 (14:4 Md. R. 413)

Chapter recodified from COMAR 05.01.22 to COMAR 05.04.05

Regulations .02—.06 amended effective April 12, 1993 (20:7 Md. R. 639)

Regulation .03B amended effective February 22, 1999 (26:4 Md. R. 272); November 29, 1999 (26:24 Md. R. 1855)

Regulation .04A amended effective September 25, 1995 (22:19 Md. R. 1471)

Regulations .07—.15 repealed and Regulations .07—.22 adopted effective April 12, 1993 (20:7 Md. R. 639)

Regulation .09D amended effective February 22, 1999 (26:4 Md. R. 272); November 29, 1999 (26:24 Md. R. 1855)

Regulation .11C amended effective September 29, 2003 (30:19 Md. R. 1329)

Regulation .15 amended effective February 22, 1999 (26:4 Md. R. 272)

Regulation .15E amended effective September 29, 2003 (30:19 Md. R. 1329)

Regulation .16C amended effective September 29, 2003 (30:19 Md. R. 1329)

Regulation .16D amended effective February 22, 1999 (26:4 Md. R. 272)

Regulation .18A amended effective February 22, 1999 (26:4 Md. R. 272)

Chapter revised effective July 12, 2010 (37:14 Md. R. 938)

Regulation .18 amended effective March 16, 2015 (42:5 Md. R. 485)