D.C. Mun. Regs. tit. 10, r. 10-B3801

Current through Register Vol. 71, No. 44, November 1, 2024

Rule 10-B3801 - ELIGIBLE MORTGAGE LENDERS AND INVITATION TO RESERVE FUNDS

3801.1

The Agency may accept as participants in the Program those Approved Mortgage Lenders which have demonstrated to the Agency, among other things, that they have the ability to originate and service Mortgage loans in the District and that they are in compliance with applicable local and federal statutes and regulations.

3801.2

The Agency shall invite interested Approved Mortgage Lenders to enter into a Participating Mortgage Lender Single Family Program Agreement in connection with the Program.

3801.3

Mortgage lenders may request, from time to time, an allocation of funds expected to be available for the purchase of Mortgage loans.

3801.4

Specific instructions concerning the following shall be contained in the Agency's program documents:

(a) The Agency's availability of funds;

(b) Terms for purchasing qualified Mortgage loans; and

(c) The method of allocating funds.

D.C. Mun. Regs. tit. 10, r. 10-B3801

Final Rulemaking published at 30 DCR 4930, 4933 (September 23, 1983); as amended by Final Rulemaking published at 61 DCR 4156 (April 25, 2014)

Authority: Section 306 of the District of Columbia Housing Finance Agency Act of 1979, effective March 3, 1979, (D.C. Law 2-135; D.C. Official Code § 42-2703.06 (2012 Repl.)) (Act), and 10-B DCMR § 3508.1.