(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) require payment of a nonrefundable application fee;
(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) without approval or execution by the Board of Public Works:
(i) assign a mortgage for value;
(ii) release a mortgage;
(iii) foreclose a mortgage;
(iv) acquire property that secures a loan in default;
(v) encumber, sell, or otherwise dispose of property acquired in connection with a loan in default;
(vi) sell a loan at a discount or on other terms acceptable to the Department;
(vii) transfer to the Fund money received on the sale of a loan under item (vi) of this item; and
(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.
(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) require payment of a nonrefundable application fee;
(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) without approval or execution by the Board of Public Works:
(i) assign a mortgage for value;
(ii) release a mortgage;
(iii) foreclose a mortgage;
(iv) acquire property that secures a loan in default;
(v) encumber, sell, or otherwise dispose of property acquired in connection with a loan in default;
(vi) sell a loan at a discount or on other terms acceptable to the Department;
(vii) transfer to the Fund money received on the sale of a loan under item (vi) of this item; and
(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.
(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) require payment of a nonrefundable application fee;
(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) without approval or execution by the Board of Public Works:
(i) assign a mortgage for value;
(ii) release a mortgage;
(iii) foreclose a mortgage;
(iv) acquire property that secures a loan in default;
(v) encumber, sell, or otherwise dispose of property acquired in connection with a loan in default;
(vi) sell a loan at a discount or on other terms acceptable to the Department;
(vii) transfer to the Fund money received on the sale of a loan under item (vi) of this item; and
(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.
