(a) (1) In connection with property on which it holds a mortgage, the Administration may: (i) foreclose on the property; (ii) begin an action to protect or enforce a right conferred on the Administration by law or any agreement; (iii) bid for and purchase the property at a foreclosure or other sale; and (iv) acquire and take possession of the property. (2) In an action under this subsection, the Administration may: (i) complete, administer, and pay the principal of and interest on an obligation incurred in connection with the property; and (ii) dispose of and otherwise deal with the property, so as to protect the interests of the Administration. (b) (1) This subsection does not apply to a lien held in connection with a public purpose project. (2) The Administration may not lend money on the security of property unless the lien on the property is superior to all other liens, except for: (i) a lien for taxes owed to the State or a political subdivision; or (ii) an earlier mortgage lien. (c) (1) At public or private sale and with or without public bidding, the Administration may sell a mortgage or other obligation that the Administration holds.

sion; or (ii) an earlier mortgage lien. (c) (1) At public or private sale and with or without public bidding, the Administration may sell a mortgage or other obligation that the Administration holds. (2) The Administration may retain the servicing rights and charge servicing fees for any mortgage or other obligation the Administration sells.