Sec. 2306.295. RULES GOVERNING PURCHASE AND SALE OF MORTGAGE LOANS. The department shall adopt rules governing the purchase and sale of mortgage loans and the application of sale proceeds, including rules governing:
(1) procedures for submitting requests or inviting proposals for the purchase and sale of mortgage loans or interest in the mortgage loans;
(2) restrictions on the number of family units, location, or other qualifications of residences to be financed by residential mortgage loans;
(3) income limits of individuals and families of low and very low income or families of moderate income occupying a residence financed by a residential mortgage loan;
(4) restrictions relating to the interest rates on mortgage loans or the return realized by mortgage lenders;
(5) requirements for commitments by mortgage lenders relating to mortgage loans;
(6) schedules of fees and charges necessary for expenses and reserves of the housing finance division;
(7) resale of the housing development; and
(8) any other matter related to the power of the department to purchase and sell mortgage loans or interests in mortgage loans.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
Section: Previous 2306.271 2306.272 2306.273 2306.291 2306.292 2306.293 2306.294 2306.295 2306.296 2306.297 2306.351 2306.352 2306.353 2306.354 2306.355 NextLast modified: September 28, 2016