Code of Maine Rules
94 - INDEPENDENT AGENCIES
457 - FINANCE AUTHORITY OF MAINE (FAME)
Chapter 204 - SECONDARY MARKET PROGRAM
Section 457-204-16 - Custody of Unguaranteed Portion
Universal Citation: 94 ME Code Rules ยง 457-204-16
Current through 2024-38, September 18, 2024
The Lender may retain or sell the Unguaranteed Portion of the Eligible Loan only through participation. "Participation" means the sale of an interest in the Eligible Loan wherein the Lender retains the note, collateral securing the note, and all responsibility for Eligible Loan servicing and liquidation. Sale of participations in an Unguaranteed Portion shall be subject to the limitations in the related Program Documents.
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