In carrying out this section and §§ 4-237 through 4-241 of this subtitle, the Administration may not make a loan to a mortgage lender or purchase a mortgage loan from a mortgage lender unless the mortgage lender is: (1) a bank, trust company, savings institution, savings and loan association, national bank association, mortgage banker, or other financial institution that: (i) has an office in the State; and (ii) makes or originates residential mortgage loans; (2) an insurance company authorized to do business in the State; or (3) the Maryland Home Financing Program.
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