US Laws, Codes, Statutes & Cases

      (a)      In this subtitle the following words have the meanings indicated.

      (b)      "Credit enhancement" means a guarantee, including a guarantee of an obligation backed by a pool of mortgages, or other assurance or security device issued to:

            (1)      improve the credit of a qualified borrowing entity; or

            (2)      upgrade the security or rating of a financial obligation, including:

                  (i)      a mortgage backed security;

                  (ii)      a certificate of participation; and

                  (iii)      a bond or note issued to finance a development activity described in this subtitle.

      (c)      "Energy conservation project" has the meaning stated in § 4-201 of this article.

      (d)      "Financing" includes acquisition financing, permanent financing, short-term bridge financing, construction financing, and refinancing of a loan or project authorized under this subtitle.

      (e)      "Fund" means the Maryland Housing Fund.

      (f)      "Housing" includes:

            (1)      a single dwelling unit;

            (2)      a multiple dwelling unit;

            (3)      an accessory unit residential facility;

            (4)      a shared-living unit facility, accommodating at least two individuals or families, in which some or all of the living, dining, kitchen, or sanitary facilities are shared; and

            (5)      an ancillary commercial or other facility that is related to, incidental to, and supportive of the housing.

      (g)      "Infrastructure project" has the meaning stated in § 4-201 of this article.

      (h)      "Mortgage" includes:

            (1)      a deed of trust, a security agreement, and a pledge; and

            (2)      any other security arrangement securing a loan, including a mortgage, to finance:

                  (i)      the purchase of stock or membership in a cooperative ownership housing corporation; or

                  (ii)      the construction or rehabilitation of dwelling units in a cooperative ownership housing corporation.

      (i)      "Public purpose project" has the meaning stated in § 4-201 of this article.

      (j)      "Solar energy project" has the meaning stated in § 4-201 of this article.