N.M. Admin. Code § 2.60.24.6

Current through Register Vol. 35, No. 23, December 10, 2024

Section 2.60.24.6 - OBJECTIVE

These council rules and regulations are established to effectuate, and shall be applied so as to accomplish, the general purposes of the Pass-through Securities Investment Act and the following specific objectives:

A. the expansion of the supply of funds in the state available for new residential mortgages;

B. promotion of the economic well-being of the state through increased construction and opportunity for employment;

C. the regulation by the council of the authority and the mortgage lenders participating in the STM program;

D. the establishment of guidelines by the council for mortgage loans eligible for inclusion in the mortgage pass-through security; and

E. the determination of the yield required to be paid on the mortgage pass-through security pursuant to the Pass-through Securities Investment Act.

N.M. Admin. Code § 2.60.24.6

Recompiled 10/1/01