New Mexico Administrative Code
Title 2 - PUBLIC FINANCE
Chapter 60 - INVESTMENT AND DEPOSIT OF PUBLIC FUNDS
Part 24 - RULES AND REGULATIONS OF THE NEW MEXICO STATE INVESTMENT COUNCIL PERTAINING TO THE THIRD SEVERENCE TAX PERMANENT FUND SINGLE FAMILY MORTGAGE POOLING PROGRAM
Section 2.60.24.6 - OBJECTIVE
Current through Register Vol. 35, No. 18, September 24, 2024
These council rules and regulations are established to effectuate, and shall be applied so as to accomplish, the general purposes of the Pass-through Securities Investment Act and the following specific objectives:
A. the expansion of the supply of funds in the state available for new residential mortgages;
B. promotion of the economic well-being of the state through increased construction and opportunity for employment;
C. the regulation by the council of the authority and the mortgage lenders participating in the STM program;
D. the establishment of guidelines by the council for mortgage loans eligible for inclusion in the mortgage pass-through security; and
E. the determination of the yield required to be paid on the mortgage pass-through security pursuant to the Pass-through Securities Investment Act.
