(a) If a Program loan is secured by a mortgage, the Department may: (1) enforce the mortgage; (2) foreclose on the mortgage and take title to the mortgaged property or take deed in lieu of foreclosure; (3) convey title to a purchaser; (4) obtain and enforce a deficiency judgment; (5) allow assumption of the mortgage; and (6) contract with a private mortgage servicer to perform on behalf of the Department any functions a servicer ordinarily performs. (b) Without approval or execution by the Board of Public Works, the Department may: (1) assign a mortgage for value; or (2) convey property after acquisition.
Maryland Legal Code