Section 825-RICR-20-00-2.3 - PROCEDURESA. Application Process. Applications for Credits shall be made by Borrowers with participating Mortgage Lenders, and will be considered by the Corporation on a first come first served basis. The Corporation will maintain and make available to the public a list of participating Mortgage Lenders as revised from time to time.B. Reservation of Credits. 1. The Corporation will allocate Credits to Borrowers using a reservation system. At the time of application for a Mortgage Loan, each Mortgage Lender will make a preliminary determination as to whether the Borrower qualifies under the MCC Program. If it is initially determined that the Borrower so qualifies, the Mortgage Lender shall request the Corporation to reserve Credits for the Borrower in such manner as may be established by the Corporation from time to time. The Corporation will provide the Mortgage Lender written confirmation (the "Confirmation") of the reservation. Credits shall be reserved by the Corporation for a period of time, as may be established from time to time by Program Bulletin, after delivery of the Confirmation (the "Reservation Period"). The Mortgage Lender shall promptly notify the Corporation of any changes impacting Borrower's eligibility under the MCC Program. The Corporation may cancel any reservation if the Closing does not occur during the Reservation Period, or if the Corporation determines that changed circumstances render the Borrower ineligible under the MCC Program.2. The Mortgage Lender shall thereafter, but in any event at least five (5) business days prior to the Closing, promptly deliver to the Corporation such affidavits, documents, certifications, tax returns, employment information and other materials and data (the "MCC Document") as the Corporation may require to make an initial eligibility determination together with the non-refundable fee set forth in § 2.6(C) of this Part. An MCC shall be issued by the Corporation after receipt of documents, affidavits and certifications signed by the Borrower and/or the seller, as applicable, at the Closing which are required by the Corporation to evidence compliance with the Tax Act and MCC Program requirements.825 R.I. Code R. 825-RICR-20-00-2.3