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The state's home sales industry may have received a shot in the arm Thursday when Lt. Gov. Anthony G. Brown (D) announced a new homeownership initiative that will bring $100 million in mortgage loans to the counties most affected by the military base realignment and closure program.

The initiative marks a change to the Maryland Mortgage Program, which offers a variety of low-interest, fixed-rate mortgage options primarily targeted to first-time homebuyers. The interest rate also will be lowered to 4.5 percent, bringing it on par with national rates, according to Brown's office.

"We hope the low rates and good terms serve as an enticement for buyers," said Steve Meszaros, president of the Maryland Association of Realtors, referring to the state's plan to encourage buying over renting among BRAC employees especially.

The state estimates the initiative will provide about 625 mortgages. About two dozen banks participate in the state program, said Kathleen Murphy, president and CEO of the Maryland Bankers Association.

Mervis Diamond wins nearly $5M in suit

After two appeals and five years in court, Mervis Diamond Importers of Vienna, Va., was awarded nearly $5 million by the Maryland Court of Special Appeals in June in its suit against Congressional Hotel Corp. of Rockville.

Mervis sued in 2005 after it signed a 10-year lease with Congressional Hotel, a division of Cohen Cos., for more than 3,000 square feet of retail space attached to the Ramada Inn on Rockville Pike in Rockville.

Mervis claimed that Congressional did not honor the lease by failing to perform construction Mervis needed. The store's opening was delayed, leading Mervis to seek compensation, according to the lawsuit.

Mervis Diamond, which was awarded $2.9 million for lost profits, plus interest and legal fees, also has stores in Chevy Chase, Tysons Corner, Va., and Washington, D.C.

Coventry subsidiary loses $262M judgment appeal

A subsidiary of Bethesda insurer Coventry Health Care has lost its appeal of a class-action suit in Louisiana, resulting in a $262 million judgment against it.

The state appeals court upheld a lower court's summary judgment against First Health Group, according to a Coventry statement.

The plaintiffs claimed that First Health violated notice provisions of Louisiana's Any Willing Provider Act, related to services for injured employees with workers compensation claims.

Lockheed Martin offers buyout plan for execs

Lockheed Martin of Bethesda this week started a voluntary buyout program for directors and vice presidents who leave the company by Feb. 1.

The program is the latest in a series of moves aimed at "refining strategic alignment, enhancing performance and lowering costs to keep pace with evolving customer realities and global security challenges," said Jeffery Adams, a company spokesman. There is not a specific number of managers being targeted, he said.

"That is completely up to the individual," Adams said.

Facing shrinking government contracting budgets, CEO Robert Stevens recently said the company also will significantly reduce its participation at international trade shows and sell off two information technology units.

Tax preparer gets two years in false returns case

A Boyds man was sentenced to two years in prison Tuesday for filing false income tax returns.

Mohamed Babar Sangarie, 48, prepared more than a dozen false tax returns for clients of his tax preparation company, MBS Tax Services of Derwood, from 2002 to 2004, according to an Internal Revenue Service spokeswoman.

The false information — including charitable gifts, job-related expenses and medical expenses — increased the refunds Sangarie's clients received, prosecutors said.

Carroll Wine Trail kicks off

The Carroll Wine Trail launched this week in an effort to link wineries in Carroll County with the Frederick Wine Trail and the Piedmont Wine Trail in Baltimore and Harford counties, according to a statement from the Maryland Wineries Association.

The Carroll Wine Trail includes Cygnus Wine Cellars in Manchester, Galloping Goose Vineyards in Hampstead and Serpent Ridge Vineyard in Westminster.

Adelphi hotel named first in state's new green program

The state has named the Marriott Inn & Conference Center at the University of Maryland University College in Adelphi as its first Maryland Green Travel Partner. Maryland Green Travel is a voluntary program launched in 2009 that reviews, certifies and recognizes tourism businesses committed to improving their operations to reduce their environmental impact.

The Marriott hotel was chosen because of its recycling and composting program, now in its third year. The hotel has reduced the percentage of solid waste sent to landfills to 47 percent, compared with 65 percent in 2008, according to hotel information. Nearly one-third is composted and 21 percent is recycled.

Glenelg pharmacist sentenced to 57 months

A Glenelg pharmacist was sentenced to 57 months in prison last week after pleading guilty to charges of health care fraud, aggravated identity theft and conspiracy to misbrand pharmaceuticals.

Pamela Arrey, 49, also was ordered by U.S. District Judge Marvin J. Garbis to forfeit her home and pay $505,745.89 in restitution costs, according to a statement by prosecutors.

Arrey made fraudulent claims to health care programs and relabeled prescription drugs purchased in large drums from an unlicensed supplier, prosecutors said.

GSE Systems wins $8M in awards

GSE Systems of Sykesville has reported receiving $8 million in new work orders for its nuclear simulation sector.

The awards include contracts to provide simulator upgrades for customers in the U.S., Korea and Europe, and engineering services and simulation technology for waste treatment cleanup facilities under construction at the company's site in Richland, Wash.

Columbia nonprofit awarded housing stabilization funds

Enterprise Community Partners, a Columbia nonprofit, recently received $5.7 million in Neighborhood Stabilization Program funding from the Texas Department of Housing and Community Affairs, company officials said in a statement.

The funding will provide down-payment and closing-cost assistance, gap financing, or a zero percent mortgage for potential homebuyers interested in single-family homes in north Texas, according to Enterprise information.

Prince George's chamber hits 1,000-member mark

The Prince George's Chamber of Commerce — the state's largest, according to its CEO — has finally reached the 1,000-member goal. That was the target set by its former CEO, James A. Dula, as his successor, Rhonda Slade, recently completed her first year.

The chamber has signed up 150 new members this year, bringing its total to 1,005 members and keeping its title of largest chamber in the state, Slade told attendees at the group's annual membership meeting last week in Mitchellville.

Dula, who resigned in October 2008, had long sought to reach 1,000 members. Slade, owner of event management company Creative Visions in Bowie, took over the chamber in April 2009.

James W. Cornelsen, CEO of Old Line Bank in Bowie, was sworn in as new chairman, along with the rest of the new board. Cornelsen succeeds Sherman L. Ragland II, managing partner of Realinvestors of Maryland in Upper Marlboro.