In administering this subchapter, the department may:
(1) enter into and enforce contracts and execute and deliver conveyances and other instruments necessary to make and administer grants, loans, and loan guarantees under this subchapter;
(2) employ personnel and counsel necessary to implement this subchapter and pay them from money appropriated for that purpose;
(3) impose and collect reasonable fees and charges in connection with grants, loans, and loan guarantees made under this subchapter and provide reasonable penalties for delinquent payment of fees, charges, or loan repayments;
(4) take and enforce a mortgage or appropriate security interest in real or personal property that a loan recipient acquires with the proceeds of a loan made under this subchapter; and
(5) adopt rules necessary to implement the grant, loan, and loan guarantee program.