Sec. 2306.1073. ADMINISTRATION OF PROGRAM; RULES. (a) The department shall administer the program.
(b) The board shall adopt rules governing:
(1) the administration of the program;
(2) the making of loans under the program;
(3) the criteria for approving participating mortgage lenders;
(4) the use of insurance on the loans and the homes financed under the program, as considered appropriate by the board to provide additional security for the loans;
(5) the verification of occupancy of the home by the homebuyer as the homebuyer's principal residence; and
(6) the terms of any contract made with any mortgage lender for processing, originating, servicing, or administering the loans.
Added by Acts 2007, 80th Leg., R.S., Ch. 1029 (H.B. 1637), Sec. 1, eff. September 1, 2007.
Added by Acts 2007, 80th Leg., R.S., Ch. 1341 (S.B. 1908), Sec. 2, eff. September 1, 2007.
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