The corporation may purchase, sell, hold, or otherwise deal in mortgage loans. In connection with the purchase or sale of a beneficial interest or participation in a mortgage loan, the corporation may enter into a trust agreement providing for the custody, control, and administration of the mortgage loan. The trust agreement may provide that the corporation or a bank or trust company shall act as trustor or trustee under the trust and that title to the mortgage loans subject to the trust shall be considered to have passed as provided in the trust agreement. To the extent provided in the trust agreement, the effect of a sale of a beneficial interest or participation in a mortgage loan is the same as the sale of the mortgage loan subject to the trust.
Structure Alaska Statutes
Title 18. Health, Safety, Housing, Human Rights, and Public Defender
Chapter 56. Alaska Housing Finance Corporation
Article 1. Alaska Housing Finance Corporation.
Sec. 18.56.010. Findings and purpose.
Sec. 18.56.020. Alaska Housing Finance Corporation.
Sec. 18.56.030. Corporation governing body.
Sec. 18.56.040. Meetings of board.
Sec. 18.56.045. Minutes of meetings.
Sec. 18.56.050. Administration of affairs.
Sec. 18.56.052. Executive director.
Sec. 18.56.055. Legal advisor.
Sec. 18.56.060. Employment of personnel.
Sec. 18.56.070. Personnel exempt from state Personnel Act.
Sec. 18.56.080. Interdepartmental cooperation.
Sec. 18.56.082. Alaska housing finance revolving fund.
Sec. 18.56.084. International borrowing.
Sec. 18.56.086. Creation of subsidiaries.
Sec. 18.56.088. Administrative procedure; regulations.
Sec. 18.56.089. Compliance with Executive Budget Act; corporation finances; dividend.
Sec. 18.56.090. General powers and limitations.
Sec. 18.56.091. Home ownership assistance program.
Sec. 18.56.095. Mortgage insurance.
Sec. 18.56.096. Limitation on power to make or purchase mortgage loans.
Sec. 18.56.097. Collateral for loans.
Sec. 18.56.098. Special mortgage loan purchase program.
Sec. 18.56.099. Powers of corporation to deal in mortgage loans.
Sec. 18.56.100. Housing development fund.
Sec. 18.56.101. Eligibility for veterans' interest rates.
Sec. 18.56.103. Federal taxation of interest on bonds and bond anticipation notes.
Sec. 18.56.105. Allocation of lending activities.
Sec. 18.56.106. Nonconforming housing loan program.
Sec. 18.56.107. Loan origination and service fees for rural areas.
Sec. 18.56.108. Simplified refinancing mortgage loan purchase program.
Sec. 18.56.110. Bonds and notes.
Sec. 18.56.115. Independent financial advisor.
Sec. 18.56.120. Validity of any pledge.
Sec. 18.56.125. Capital reserve fund.
Sec. 18.56.135. Loan servicing requirements.
Sec. 18.56.140. Negotiable instruments.
Sec. 18.56.150. Obligations eligible for investment.
Sec. 18.56.160. Refunding obligations.
Sec. 18.56.170. Credit of state not pledged.
Sec. 18.56.180. Officers not liable.
Sec. 18.56.190. Tax exemption.
Sec. 18.56.200. Annual report.
Sec. 18.56.205. Residential mortgage assistance for members of the Alaska delegation to Congress.
Sec. 18.56.210. Market stabilization powers.
Sec. 18.56.220. Duty to advise about corporation's programs.
Sec. 18.56.300. Construction standards for housing eligible for purchase of loans.