Current through Register Vol. XLI, No. 50, December 13, 2024
1.1. Scope. -- These rules are being refiled pursuant to West Virginia Code, subsection (a), section five, article two, chapter twenty-nine-a and are identical with the rules filed in the office of the Secretary of State of West Virginia on July 1, 1982. These rules apply to the origination, purchase and servicing of single-family mortgage loans by West Virginia Housing Development Fund (the "Housing Development Fund") and its agents, on behalf of the West Virginia State Board of Investments (the "Board of Investment"), from funds provided in the "State Mortgage and Industrial Development Investment Pool" pursuant to West Virginia Code, section one, article eighteen-b, chapter thirty-one, et seq. These rules are issued to implement the loan program mandated by such legislation, to provide procedures designed to safeguard the investments to be made with funds from the Mortgage Investment Pool and to effectively discharge the duties imposed on the Housing Development Fund as administrator of the program on behalf of the Board of Investments. These rules include legislative rules, interpretive rules and procedural rules, which are hereby identified as follows: (a) Legislative rules. -- Section 2.3(b), (c) and (i) are legislative rules, relating to West Virginia Code, section seven, article eighteen-b, chapter thirty-one.(b) Interpretive rules. -- Section 2.1, Section 2.2, Section 2.3(d) through (h), Section 2.3(j) and (k), Section 3 and Section 4 are interpretive rules, relating to West Virginia Code, section eight, article eighteen-b, chapter thirty-one.(c) Procedural rules. -- Section 2.4, Section 2.5, Section 2.6 and Section 5 are procedural rules, relating to West Virginia Code, section eleven, article eighteen-b, chapter thirty-one.1.2. Authority. -- W. Va. Code ''31-18B-1 and 29A-2-5(a)1.3. Filing Date. -- December 27, 1982.1.4. Effective Date. -- August 15, 1982.