La. Admin. Code tit. 16 § I-348
Current through Register Vol. 50, No. 11, November 20, 2024
Section I-348 - Terms and Conditions of Insured Mortgage LoansA. Insured mortgage loans originated by lending institutions pursuant to the agency's insured mortgage loan purchase programs shall be subject to and comply with such terms and conditions as shall be established by the agreement. The mortgage loan purchase commitment shall contain such terms, conditions and requirements as the executive director considers appropriate including, without limitation, conditions establishing that the purchase price of the subject housing unit, the method of making payments after the purchase thereof, the security afforded by the interest rate and fees and charges, if any, to be paid by the eligible applicant shall at all times be sufficient to permit the agency to make the payments on its bonds and notes plus any administrative or other costs to agency in connection with the transaction.La. Admin. Code tit. 16, § I-348
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.