La. Admin. Code tit. 16 § I-343
Current through Register Vol. 50, No. 11, November 20, 2024
Section I-343 - Allocation of Funds for Insured Mortgage Loan PurchasesA. The agency shall in its sole discretion reduce the amount of each offer to participate to an amount it deems reasonable in the event that the agency receives offers to originate more insured mortgage loans than is practical. Such reduction shall be on a pro rata basis, provided that the agency may consider the historic origination experiences of the lending institutions and related factors. Priorities for allocation of agency moneys available for the purchase of insured mortgage loans may be established and reviewed by the agency. Priorities shall be based on criteria established by the agency as best effectuating the purposes of the Act including, without limitation, a determination by the agency of an area's need for housing for persons or families of low or moderate income as compared to the agency's determination of the overall housing needs of the area.La. Admin. Code tit. 16, § I-343
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.