Illinois Administrative Code
Title 47 - HOUSING AND COMMUNITY DEVELOPMENT
Part 300 - HOMEOWNERSHIP MORTGAGE LOAN PROGRAM
Subpart A - GENERAL RULES
Section 300.106 - Standards

Universal Citation: 47 IL Admin Code ยง 300.106

Current through Register Vol. 48, No. 12, March 22, 2024

In administering the Program, the Authority and the Staff, in those instances permitting the exercise of discretion, shall consider, in addition to the criteria specifically set forth in this Part,

the following factors:

a) the purpose of the Program;

b) the financial condition and previous lending experience of potential and participating Lenders and Servicers;

c) to the extent the Program is financed through the issuance of Bonds, the Authority's ability to purchase or redeem the Bonds or to retire Bonds at their maturity and to comply with the requirements of any applicable resolution or indenture of the Authority and applicable State and federal law;

d) the financial integrity of the Program;

e) the desirability of achieving a reasonable geographic distribution of Program Funds throughout the State; and

f) the standards of the prudent lender or investor.

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