99- 346 C.M.R. ch. 30, § 8

Current through 2024-51, December 18, 2024

Section 346-30-8 - Amortizing Debt

When MSHA financing includes amortizing debt payable to MSHA, the financing shall be subject to the following:

A.Underwriting Standards. Program Guides shall set forth underwriting criteria which may include, without limitation, debt to income ratios, credit history, assets, and employment stability.

B. Appraisals. MSHA may require an appraisal in a form satisfactory to MSHA to determine whether there is adequate value in a Project and may require Applicants to reimburse MSHA for appraisal costs.

99- 346 C.M.R. ch. 30, § 8