New Jersey Administrative Code
Title 5 - COMMUNITY AFFAIRS
Chapter 80 - NEW JERSEY HOUSING AND MORTGAGE FINANCE AGENCY
Subchapter 14 - MAKING OR PURCHASING ELIGIBLE LOANS FOR SINGLE FAMILY HOME IMPROVEMENT
Section 5:80-14.2 - Allocation of commitments
Universal Citation: NJ Admin Code 5:80-14.2
Current through Register Vol. 56, No. 24, December 18, 2024
(a) In allocating funds available to meet the commitments requested by mortgage sellers, the Agency shall consider, among other things:
1. The amounts of the program commitments
requested by the various mortgage sellers;
2. The adequacy of supply of affordable
single family home improvement loans in the areas in which the mortgage seller
proposes to originate single family home improvement loans;
3. The financial strength and stability of
the mortgage seller; and
4. The
residential loan originating activity reported in the commitment application
and the ability of the mortgage seller to originate single family home
improvement loans under the terms and conditions of the note purchase
agreement.
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