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Buy Homes In Md

To revitalize commercial districts and blighted areas, plan growth and resource development, and provide housing for citizens not served by the private sector, the Department funnels federal and State funds to communities and supports community action and regional development agencies.In April 2015, the Department moved from 100 Community Place, Crownsville, Maryland (Anne Arundel County) to its present site at 7800 Harkins Road, Lanham, Maryland (Prince George's County).OFFICE OF SECRETARY7800 Harkins Road, Lanham, MD 20706Appointed by the Governor with Senate advice and consent, the Secretary of Housing and Community Development is chief executive officer of the Department. The Secretary sets policy, promulgates rules and regulations, and determines the strategies to fulfill the Department's mandate. The Secretary is responsible for the budget of the Department and the budgets of the boards, commissions, and offices under its jurisdiction (Code, Housing & Community Development Article, secs. 2-103, 2-104).The Secretary chairs the Interagency Council on Homelessness, and also serves on the Governor's Executive Council, the Commerce Subcabinet, and the Smart Growth Subcabinet. In addition, the Secretary is a member of the Maryland Affordable Housing Trust; the Interagency Committee on Aging Services; the Maryland Agricultural Education and Rural Development Assistance Board; the Behavioral Health Advisory Council; the Maryland Building Rehabilitation Code Advisory Council; the State Children's Environmental Health and Protection Advisory Council; the Interagency Disabilities Board; the Commission on Environmental Justice and Sustainable Communities; the Financial Education and Capability Commission; the Maryland Green Building Council; the Maryland Heritage Areas Authority; the Maryland Advisory Council on Historic Preservation; the State Coordinating Committee for Human Services Transportation; the Council on Open Data; the Rural Maryland Council; the Interdepartmental Advisory Committee on Small, Minority, and Women Business Affairs; the Governor's Commission on Small Business; and the State Center Executive Committee.The Secretary of Housing and Community Development is responsible for five divisions: Credit Assurance; Development Finance, Finance and Administration; Information Technology; and Neighborhood Revitalization. Directly under the Secretary are the Deputy Secretary, the Chief Financial Officer, and the Chief Operating Officer and Chief of Staff, as well as Business Development for Project CORE, and the Office of Statewide Broadband. BUSINESS DEVELOPMENT FOR PROJECT C.O.R.EIn January 2016, the Governor with the Mayor of Baltimore, through their respective departments of housing and community development, entered into a memorandum of understanding to demolish thousands of vacant buildings in Baltimore City, paving the way for redevelopment, reinvestment, and stabilization of City neighborhoods. Housed within the Department of Housing and Community Development, this initiative was overseen by the Deputy Secretary from 2017 to 2019. Known as Project Creating Opportunities for Renewal and Enterprise (Project CORE), the initiative also includes the Maryland Stadium Authority as a partner. To assist these efforts, the Continuing the CORE [Creating Opportunities for Renewal & Enterprise] Partnership Fund was created in July 2018 (Chapters 639 & 640, Acts of 2018). Project CORE was placed directly under the Office of Secretary in May 2019.OFFICE OF STATEWIDE BROADBAND In 2017, the Office of Statewide Broadband was created by the Governor as the Office of Rural Broadband within the Department of Information Technology (Executive Order 01.01.2017.14). By 2020, the Office had transferred to the Department of Housing and Community Development where it was placed under the Chief Financial Officer. In April 2021, the Office of Rural Broadband was restructured by the General Assembly as the Office of Statewide Broadband (Chapter 74, Acts of 2021). The Office was placed directly under the Office of Secretary in July 2021.In Maryland, the Office of Statewide Broadband develops definitions and standards for broadband to meet requirements for businesses, communities, educational institutions and health care providers. To create a statewide audit of availability, reliability, and affordability of broadband internet services in each county, the Office collects pricing data from providers, and assesses actual upload and download speeds experienced by consumers.To expand access to broadband internet services, local jurisdictions are assisted by the Office, which identifies areas needing better internet service, estimates what funding is needed to connect residents to high-speed internet service, and coordinates the delivery of resources to improve access to broadband services in those areas. To further those ends, the Office is to maintain a website with a publicly accessible map showing where no access to broadband internet is available; the prices and plans available for broadband internet services in different areas; and other available geographic and demographic State data. Geographic and demographic data on households relying on mobile broadband for internet service is to be collected, analyzed, and shared by the Office. Data on funding available through government and private sources for expanding broadband infrastructure is identified and shared by the Office, which also solicits information on financial investment in high-speed internet from local jurisdictions and private entities. Through partnerships with library systems, local jurisdictions, other institutions, and the private sector, funding and technical assistance is provided by the Office to local governments and private entities to qualify for federal funding opportunities, and to plan and construct broadband infrastructure. In addition, the Office evaluates new technologies that increase the availability of broadband internet service in Maryland; looks for partnerships to share resources; recommends policy, legislation, and regulations for improving availability and access to broadband internet service in the State; and collaborates with local education agencies and community colleges to ensure that students have reliable broadband internet necessary for remote learning. Three Funds are administered by the Office: the Digital Connectivity Fund; the Digital Inclusion Fund, and the Rural Broadband Assistance Fund.Annually, the Office reports to the Governor and General Assembly, and by July 1, 2022, the Office is to prepare and submit a statewide plan to the Governor and General Assembly (Chapter 74, Acts of 2021). CHIEF FINANCIAL OFFICERWithin the Office of Secretary, the Chief Financial Officer oversees Strategic Initiatives.CHIEF OPERATING OFFICER & CHIEF OF STAFFFrom February 2019 to March 2022, the Chief of Staff oversaw six offices: Fair Practices; Housing and Economic Research; Human Resources; Legislative Affairs; Operations and Administration; and Public Information. In March 2022, the Chief of Staff was renamed as the Chief Operating Officer and Chief of Staff responsible for three offices: Fair Practices, Human Resources, and Operations and Administration.OFFICE OF OPERATIONS & ADMINISTRATIONRECORDS MANAGEMENTSince October 1, 2017, the Department of Housing and Community Development has had a program for the continual, economical and efficient management of its records. The Department's Records Officer develops and oversees the program, and serves as liaison to the Records Management Division of the Department of General Services, and to the State Archives (Chapter 539, Acts of 2017; Code State Government Article, secs. 10-608 through 10-611).DEPUTY SECRETARYAssisting the Secretary of Housing and Community Development is the Deputy Secretary, who is appointed by the Secretary with the approval of the Governor. The Deputy Secretary since January 2022 has been responsible for four offices: Community Engagement, Legislative and Public Affairs, Public Information, and Research and Economic Development.OFFICE OF PUBLIC INFORMATIONThe Office of Public Information oversees two offices: Communications, and Community Outreach.OFFICE OF RESEARCH & ECONOMIC DEVELOPMENTThe Office of Research and Economic Development began as the Office of Research when the Department of Economic and Community Development formed in 1970. The Office joined in 1987 the Department of Housing and Community Development. In 1995, it became the Office of Policy Analysis and Commission Support; in 1996, the Office of Research; and in 1997, Research and Statistics. By 2003, it reformed as Research and, in 2007, as the Office of Research. In July 2008, it reorganized as the Office of Policy, Planning, and Research, and in April 2015, as the Office of Research, Policy, and Legislative Affairs. Through restructuring in July 2015, it became the Office of Housing and Economic Research, and in 2017 moved under the Office of Public Information. In January 2021, the Office became the Office of Research and Economic Development under the Deputy Secretary.This office analyzes policy issues and develops legislative initiatives. It helps develop Department databases and geographic information systems for policy reporting. The Office also prepares the Consolidated Plan (for housing and economic and community development) required by the U.S. Department of Housing and Urban Development and the Plan's annual updates, performance reports, and fair housing strategy.DIVISION OF CREDIT ASSURANCE7800 Harkins Road, Lanham, MD 20706The Division of Credit Assurance started as the Division of Housing Insurance in 1987. Renamed the Division of Housing Credit Assurance in 1990 (Chapter 321, Acts of 1990), it received its present name in 1996. The Division is responsible for the Maryland Housing Fund and asset management for the multi-family loan portfolio of the Department (Code Housing & Community Development Article, secs. 3-101 through 3-104).MARYLAND HOUSING FUNDIn 1971, the Maryland Housing Fund was established (Chapter 669, Acts of 1971). By insuring mortgage loans and employing other credit enhancements, the Fund assists State citizens of low and moderate income to secure housing. To stimulate the flow of private investment capital into Maryland for this purpose, the Fund uses a variety of innovative mortgage insurance programs (Code Housing & Community Development Article, secs. 3-201 through 3-208).ASSET MANAGEMENTAsset Management began as Housing Management in the Community Development Administration. Renamed Asset Management, it transferred to the Division of Housing Credit Assurance in May 1994 and to the Division of Credit Assurance in 1996. Its functions reformed under Multifamily Asset Management in 1998. Reorganization in 2003 created Asset Management overseeing Single-Family Operations, and Multifamily Operations (now Special Assets).Asset Management monitors and manages the Department's multifamily, single family, and small business portfolios and real estate assets, including State-funded loans and bond loans insured by the Maryland Housing Fund, the Federal Housing Authority, and others. To oversee these portfolios and real estate assets, Asset Management uses automated databases, standardized procedures, and early warning indicators. The database also provides a means of monitoring performance trends of the portfolio as a whole.Construction Loans insure mortgages to nonprofit and qualified private developers of new or rehabilitated housing for families and individuals, the elderly and the disabled. Only in combination with permanent mortgage financing are construction loans insured. The Maryland Housing Fund is the only insurer of construction loans in the State, other than the Federal Housing Administration.Permanent Loans insure permanent mortgages to nonprofit and qualified private developers of new or rehabilitated housing. Permanent mortgage insurance is provided to multifamily projects for new construction and rehabilitation, projects receiving federal subsidies, and market-rate projects financed by eligible issuers of revenue bonds.Portfolio Management began in 1994 under the Maryland Housing Fund and became part of the Division of Information Technology and Portfolio Management in 1996. Functions of the office were returned to the Maryland Housing Fund in 1998. For the Maryland Housing Fund, the office focuses on risk management, and analysis and planning to better position the Fund's portfolio for the future. The office has helped increase reserve funds through loan and mortgage insurance initiatives.Special Housing Opportunities Program (SHOP) Loans provide mortgage insurance to encourage the availability of financing to nonprofit agencies for group homes to house those with special needs, including the elderly, and the developmentally and mentally challenged. Mortgage loans finance or refinance acquisition, construction, or rehabilitation of shared living or related facilities for those with special needs. The Community Development Administration is the lender for these programs.SINGLE-FAMILY OPERATIONSSingle-Family Operations was initiated as Single-Family Programs, and received its present name in 1998. For single-family mortgage loans, this office oversees four programs: the Pool Insurance Program, the Public Mortgage Single-Family Program, the Regular Mortgage Insurance Program, and the Revitalization Program.Pool Insurance Program. This program offers insurance covering up to 100 percent of the loss on mortgages where there is primary coverage. The aggregate amount payable under this coverage is an agreed percentage (usually 5 to 10 percent) of the initial principal amount of mortgages financed through a revenue bond series. The Maryland Housing Fund provides pool insurance for revenue bonds issued by the Community Development Administration and other housing agencies.Public Mortgage Single-Family Program. The Program offers primary insurance coverage on mortgages of up to 100 percent loan-to-value ratios financed by revenue bond-funded direct mortgages or mortgage purchase programs of a public agency mortgagee. The insurance is governed by the Regular Mortgage Insurance Program regulations, with modifications.Regular Mortgage Insurance Program. Primary insurance coverage on mortgages of up to 100 percent loan-to-value ratios is offered by this program on terms provided by major financial institutions. Mortgage insurance premiums are comparable to those charged by private mortgage insurers. This program is approved by the Federal National Mortgage Association.Revitalization Program. The Program provides opportunities to lower the risk of lending by using Maryland Housing Fund insurance to stimulate the flow of private mortgage capital into areas where home ownership has declined. In addition, the Program makes home ownership possible for those without the resources for property repairs and closing costs, which otherwise would be required. The borrower must make a minimum cash contribution (at least $500) based on household income. Currently, there is a risk-sharing requirement for lenders participating in this program.DIVISION OF DEVELOPMENT FINANCE7800 Harkins Road, Lanham, MD 20706The Division of Development Finance began in 1987 as the Division of Housing Finance (Chapter 311, Acts of 1987). In 1995, it received its present name (Chapter 115, Acts of 1995). The Division consists of the Community Development Administration, which operates finance programs for single- and multi-family housing with the proceeds of revenue bonds issued by the Administration. The Division runs other State housing programs as well (Code Housing & Community Development Article, secs. 4-101 through 4-103).COMMUNITY DEVELOPMENT ADMINISTRATIONIn 1970, the Community Development Administration formed within the Department of Economic and Community Development (Chapter 527, Acts of 1970). The Administration joined the Department of Housing and Community Development in 1987 (Chapter 311, Acts of 1987).The Administration works to increase the supply of housing for families of limited income, the elderly, and the disabled. It also fosters sound community development and stimulates the construction industry statewide. Programs that increase home ownership, improve rental housing, build group homes, and assist owners with rehabilitated housing are overseen by the Administration. Programs are funded by the sale of tax-exempt revenue bonds; taxable bonds; State general obligation bonds; general funds; special funds generated through loan repayments, fees, and charges; and federal housing subsidies. The Administration also issues essential function bonds for the Local Government Infrastructure Program.Projects proposed for financial assistance must comply with local priorities and complement and supplement local community development programs and initiatives. Projects also must meet eligibility criteria and financing requirements (Code Housing & Community Development Article, secs. 4-201 through 4-216).HOUSING FINANCE REVIEW COMMITTEEIn 1983, the Housing Finance Review Committee was created (Chapter 668, Acts of 1983). The Committee reviews specific loan requests or categories of loan requests, and the investment and project financing policies of the Division of Development Finance. After review, the Committee makes recommendations to the Secretary of Housing and Community Development.Appointed by the Governor upon recommendation of the Secretary of Housing and Community Development, the Committee is composed of seven members (Code Housing & Community Development Article, sec. 4-208).MARYLAND AFFORDABLE HOUSING TRUSTThe Maryland Affordable Housing Trust was constituted in 1992 to enhance the availability of affordable housing throughout the State (Chapter 265, Acts of 1992). A public instrumentality of the State, the Trust may receive monies for investment in the Maryland Affordable Housing Trust Fund. From this Fund, the Trust may make awards to support acquisition, construction, rehabilitation, or preservation of affordable housing; efforts of nonprofit organizations to develop affordable housing; and operating expenses of housing developments with affordable housing.The Trust consists of fourteen members. Eleven voting members are appointed to four-year terms by the Governor with Senate advice and consent. Three nonvoting members include the Secretary of Housing and Community Development; a senator appointed by the Senate President; and a delegate chosen by the House Speaker (Code Housing & Community Development Article, secs. 10-101 through 10-301).BOND FINANCETo raise funds for single-family and multi-family home loans, Bond Finance sells both tax-exempt and taxable bonds. It also directs the investment and accounting of over $2.8 billion in revenue bond assets. Bond Finance reports information about the financial strength of the Community Development Administration and its debt and bond programs to the Department, investment bankers, bond holders, and rating agencies.CAPITAL STATE FUNDS & GENERAL ACCOUNTINGUnder the Division of Development Finance, Capital State Funds and General Accounting started as the State-Funded Loan Program and reorganized under its present name in May 2022.ENERGY & BUSINESS LENDINGEnergy and Business Lending formed under the Division of Development Finance in May 2022.MULTIFAMILY & BUSINESS LENDING PROGRAMSMultfamily and Business Lending Programs began as Community Development, reformed as Multifamily Housing Programs, and restructured under its present name in April 2015. Under Multifamily and Business Lending Programs are two units: Business Lending, and Multifamily Ho


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