A property financed by mortgage loans insured by the Fund shall:
- A. Be a residential property or type of property permitted under the Act;
- B. Have clear and merchantable title acceptable to the Fund;
- C. Conform to all applicable federal, State, and local building, zoning, environmental, health, and housing codes;
- D. Be insured with hazard insurance issued by a company that is approved by the State Insurance Commissioner and, when applicable, flood insurance;
- E. Have an appraised value that is satisfactory to the Fund; and
- F. Meet any other standards of the Fund.
Authority: Housing and Community Development Article,§3-207(a), Annotated Code of Maryland
Effective date: November 3, 2008 (35:22 Md. R. 1956)