Rules & Regulations of the State of Tennessee
Title 0770 - Housing Development
Chapter 0770-01-02 - Homeownership Loan Program
Section 0770-01-02-.12 - LOAN APPROVAL OR DISAPPROVAL

Universal Citation: TN Comp Rules and Regs 0770-01-02-.12

Current through September 24, 2024

(1) The Agency shall establish operating procedures for evaluation of applicants and mortgages pursuant to the standards set forth in these regulations.

(2) The Executive Director is authorized to approve or disapprove mortgages in accordance with these regulations, existing rules of practice and processing instructions.

(3) Upon approval of an application, acceptance shall be evidenced by the issuance of a commitment setting forth the terms and conditions of the mortgage.

(4) If a mortgage is disapproved, the reasons for such action shall be stated in a letter to the applicant from the Executive Director.

Authority: T.C.A. § 13-23-115(18).

Disclaimer: These regulations may not be the most recent version. Tennessee may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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