Md. Code Regs. 05.06.08.10

Current through Register Vol. 51, No. 22, November 1, 2024

Section 05.06.08.10 - General Provisions

A. Waiver. The Secretary may waive or vary particular provisions of this chapter to the extent that the waiver is not inconsistent with the Act or with agreements to which the Fund may be subject if:

(1) Conformance to the requirements of any federal, State, or local program in connection with a loan necessitates a waiver or variance of a regulation; or

(2) In the written determination of the Secretary, the application of a regulation in a specific case or in an emergency situation would be inequitable or contrary to the purposes of the Act.

B. Reconsideration.

(1) An applicant or a financial institution may request reconsideration of a Fund decision that a loan or claim is not eligible under this chapter by submitting a written request to the Secretary within 30 days following the date of the Fund's written decision. The request for reconsideration shall address each reason for the decision and provide documentation that supports reasons for reconsideration of the issues. The Secretary shall respond in writing to the applicant's request for reconsideration within 30 days of receiving the request.

(2) An initial decision or reconsideration of a decision is not a contested case within the meaning of the Administrative Procedure Act or COMAR 05.01.01.02A.

(3) The Secretary, in the Secretary's sole discretion, may delegate to an authorized officer of the Department the authority to approve, disapprove, or approve with modifications a request for reconsideration of a determination of ineligibility.

C. False Statements. A borrower or lender 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, is subject to cancellation of insurance, in addition to the criminal penalties authorized by the Act.

D. Delegation. The Secretary may delegate to the Director of the Fund or to any other official or employee of the Department or the Fund the authority to execute or approve any insurance documents or Fund certificates.

Md. Code Regs. 05.06.08.10