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.
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