Sec. 2306.291. PURCHASE AND SALE OF MORTGAGE LOANS. (a) The department may purchase and take assignments from mortgage lenders or the federal government of notes and other obligations, including contracts for deed and mortgages, evidencing loans or interest in loans for the construction, remodeling, improvement, rehabilitation, purchase, leasing, or refinancing of housing developments for individuals and families of low and very low income and families of moderate income.
(b) The department may sell, at public or private sale, with or without public bidding, a mortgage or other obligation held by the department.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993. Amended by Acts 1997, 75th Leg., ch. 980, Sec. 39, eff. Sept. 1, 1997.
Section: Previous 2306.267 2306.268 2306.269 2306.270 2306.271 2306.272 2306.273 2306.291 2306.292 2306.293 2306.294 2306.295 2306.296 2306.297 2306.351 NextLast modified: September 28, 2016