A sponsor who knowingly makes or causes to be made a false statement or report, whether in the nature of an understatement or overstatement of financial condition or any other fact material to the Department's action, shall be subject to immediate acceleration of the loan, in addition to the criminal penalties authorized by Housing and Community Development Article, §4-255, Annotated Code of Maryland.

Authority: Housing and Community Development Article, §§4-225 and 4-226, Annotated Code of Maryland;
Executive Order 01.01.1992.27C

Effective date: February 20, 1989 (16:3 Md. R. 340)

Regulation .02A, B amended effective April 15, 1991 (18:7 Md. R. 771)

Regulation .03B amended effective April 15, 1991 (18:7 Md. R. 771); November 29, 1999 (26:24 Md. R. 1856)

Regulation .04A, B amended effective April 15, 1991 (18:7 Md. R. 771)

Regulation .05F adopted effective January 2, 1994 (20:25 Md. R. 1942)

Regulation .05F amended effective April 5, 1999 (26:7 Md. R. 538)

Regulation .06J amended effective November 29, 1999 (26:24 Md. R. 1856)

Regulation .08A amended effective January 2, 1994 (20:25 Md. R. 1942)

Regulation .09 amended effective March 16, 2015 (42:5 Md. R. 485)