N.J. Admin. Code § 5:80-14.2

Current through Register Vol. 56, No. 23, December 2, 2024

Section 5:80-14.2 - Allocation of commitments

(a) In allocating funds available to meet the commitments requested by mortgage sellers, the Agency shall consider, among other things:

1. The amounts of the program commitments requested by the various mortgage sellers;

2. The adequacy of supply of affordable single family home improvement loans in the areas in which the mortgage seller proposes to originate single family home improvement loans;

3. The financial strength and stability of the mortgage seller; and

4. The residential loan originating activity reported in the commitment application and the ability of the mortgage seller to originate single family home improvement loans under the terms and conditions of the note purchase agreement.

N.J. Admin. Code § 5:80-14.2

Amended by R.2000 d.132, effective 3/20/2000.
See: 32 New Jersey Register 191(a), 32 New Jersey Register 1065(a).