La. Admin. Code tit. 16 § I-339

Current through Register Vol. 50, No. 11, November 20, 2024

Section I-339 - Invitation to Mortgage Lending Institutions

A. The agency from time to time by resolution shall approve the submission of the invitation to mortgage lending institutions to lending institutions with offices in the state. The invitation to mortgage lending institutions shall inform lending institutions of the nature and features of the agency's insured mortgage loan purchase program and shall in particular state the following:

1. the amount of the origination fee which a lending institution may charge a mortgagor;

2. the amount of the service fee which a lending institution may charge a mortgagee;

3. the definition of the lending institution commitment fee to accompany the offer to participate; and

4. the definition of the letter of credit which the agency by resolution may require each lending institution to submit.

La. Admin. Code tit. 16, § I-339

Promulgated by the Department of Urban and Community Affairs, Housing Finance Agency, LR 7:198 (April 1981).

AUTHORITY NOTE: Promulgated in accordance with R.S. 40:600.1 et seq.