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TITLE 10COMMUNITY DEVELOPMENT
PART 1TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS
CHAPTER 28TAXABLE MORTGAGE PROGRAM
RULE §28.7Criteria for Approving Participating Mortgage Lenders

To be approved by the Board for participation in the program, a mortgage lender must meet the requirements to be a qualified mortgage lender as specified by:

  (1) Federal Housing Administration (FHA);

  (2) Veteran's Administration (VA);

  (3) Rural Housing Service's (RHS); and

  (4) be a lender currently participating in the conventional home lending market for loans originated in accordance with Fannie Mae's and/or Freddie Mac's requirements;

  (5) agree to originate mortgage loans and assign those loans and related mortgages and servicing to the Department's master servicer;

  (6) originate, process, underwrite, close and fund originated loans; and

  (7) be an approved seller/servicer with the program's master servicer.


Source Note: The provisions of this §28.7 adopted to be effective October 30, 2012, 37 TexReg 8504

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