D.C. Mun. Regs. tit. 26, r. 26-C2902

Current through Register Vol. 71, No. 49, December 6, 2024

Rule 26-C2902 - ELIGIBLE LENDERS - COLLATERAL SUPPORT PROGRAM

2902.1 An Eligible Lender for the Collateral Support Program shall be:

(a) A federally insured commercial lender;

(b) A federally insured credit union; or

(c) A Community Development Financial Institution.

2902.2 An Eligible Lender shall enroll in the Collateral Support Program by providing to DISB:

(a) A signed SSBCI Participation Agreement with DISB;

(b) A certification that it is in compliance with the requirements of 31 C.F.R. § 1020.220;

(c) A certification that, consistent with OMB Circular A-129, it has at least twenty percent (20%) of its own capital at risk in any loan enrolled in the District SSBCI Programs, unless a waiver is granted;

(d) A certification that no principal of the lender has been convicted of a sex offense against a minor as such term is defined in Section 111 of the Sex Offender Registration and Notification Act (42 U.S.C. § 16911); and

(e) Any other document necessary for the administration of the District SSBCI Programs or for compliance with the U.S. Treasury's SSBCI.

D.C. Mun. Regs. tit. 26, r. 26-C2902

As amended by Final Rulemaking published at 61 DCR 9181 (September 5, 2014)