Iowa Admin. Code r. 265-45.2

Current through Register Vol. 47, No. 8, October 30, 2024
Rule 265-45.2 - Definitions

"Authority" means the Iowa finance authority.

"Borrower " means one or more individuals borrowing or seeking to borrow money for the purchase of a manufactured home.

"Financial institution " means a financial institution as defined in Iowa Code section 12C. 1 that has been approved as a depository of public funds pursuant to Iowa Code section 12C.2.

"Fund" means the manufactured housing program fund created pursuant to Iowa Code section 16.45.

"Interlender loan " means the lending of funds by a financial institution to a lender, which funds are, in turn, to be loaned by the lender to a borrower to finance the purchase of a manufactured home.

"Lender" means a lender as defined in Iowa Code section 537.1301 that is licensed by the banking division of the department of commerce and that has not been approved as a depository of public funds pursuant to Iowa Code section 12C.2.

"Manufactured home " or"manufactured housing " means the same as defined in Iowa Code section 435.1.

"Mortgage loan " means a loan from a financial institution or lender to a borrower to finance the purchase of a manufactured home.

"Program " means the manufactured housing program.

"Revolvingfunds" means the funds created by Iowa Code sections 16.46 through 16.49.

Iowa Admin. Code r. 265-45.2

Adopted by IAB December 5, 2018/Volume XLI, Number 12, effective 1/9/2019