[§201G-243] Housing loan programs; procedures and requirements. [Section effective until June 30, 2006. For section effective July 1, 2006, see below.] (a) The corporation may establish procedures and requirements for:
(1) The purchase of loans from mortgage lenders by auction, invitation of tender, advance commitment, or other negotiation;
(2) The making of loans through mortgage lenders to eligible borrowers or qualified sponsors;
(3) The allocation to mortgage lenders of money made available under this subpart; and
(4) The participation by mortgage lenders as originators and processors of loans on behalf of the corporation under this subpart.
(b) The corporation may adopt rules necessary or convenient for the operation of the housing loan programs established under this subpart. [L 1997, c 350, pt of §2]
§201G-243 Housing loan programs; procedures and requirements. [Section effective July 1, 2006. For section effective until June 30, 2006, see above.] (a) The administration may establish procedures and requirements for:
(1) The purchase of loans from mortgage lenders by auction, invitation of tender, advance commitment, or other negotiation;
(2) The making of loans through mortgage lenders to eligible borrowers or qualified sponsors;
(3) The allocation to mortgage lenders of money made available under this subpart; and
(4) The participation by mortgage lenders as originators and processors of loans on behalf of the administration under this subpart.
(b) The administration may adopt rules necessary or convenient for the operation of the housing loan programs established under this subpart. [L 1997, c 350, pt of §2; am L 2005, c 196, §26(a)]