Or. Admin. Code § 813-070-0045

Current through Register Vol. 63, No. 12, December 1, 2024

Section 813-070-0045 - Mortgage Insurance

All Program Loans to be purchased by the Department under the Home Improvement Loan Program shall be insured under the Title I Property Improvement Loan Insurance Program of the Federal Housing Administration (FHA). The designated Trustee, on behalf of the Department, shall be named as the insured. The Approved Lender shall be responsible for reporting the loan to FHA for insurance, and shall originate and process the Program Loan in compliance with the Program's Procedural Guide, the Program rules, and rules and regulations of FHA to ensure that the Trustee will receive FHA insurance on the Program Loan.

Or. Admin. Code § 813-070-0045

1HD 5-1983, f. & ef. 9-2-83; 1HD 12-1984, f. & ef. 9-4-84; HSG 3-1989(Temp), f. & cert. ef. 6-8-89; HSG 16-1989, f. & cert. ef. 11-3-89; HSG 2-1991(Temp), f. & cert. ef. 8-7-91; HSG 8-1991, f. & cert. ef. 12-23-91

Publications: The publication(s) referred to or incorporated by reference in this rule are available from the agency.

Stat. Auth.: ORS 90.800 - ORS 90.840, ORS 91.886, ORS 183, ORS 456.515 - ORS 456.723 & ORS 458.210 - ORS 458.650

Stats. Implemented: ORS 456.690