§516-121 Acquisition loan programs; procedures and requirements. (a) The corporation shall establish procedures for:
(1) The submission of requests or the invitation of proposals for loans to mortgage lenders;
(2) The purchase of existing loans by auction, invitation of tenders, or negotiation;
(3) The making of advance commitments to purchase and the purchasing of eligible loans to be made by mortgage lenders by auction, invitation of tenders, or negotiation; and
(4) Loan applications made through mortgage lenders to eligible borrowers.
(b) The corporation shall establish standards and requirements for:
(1) The allocation of loans to mortgage lenders;
(2) The allocation of funds to purchase existing loans from mortgage lenders;
(3) The making of advance commitments and allocation of funds to purchase eligible loans from mortgage lenders; and
(4) The participation by mortgage lenders as originators and processors of eligible loans on behalf of the corporation.
(c) The standards and requirements for the allocation of funds to mortgage lenders adopted by the corporation shall be designed to include the maximum number of qualified mortgage lenders as participants in the acquisition loan programs.
(d) The corporation may adopt rules under chapter 91 necessary or convenient for the operation of the acquisition loan programs under this part. [L 1983, c 270, pt of §1; am L 1987, c 337, §16; am L 1988, c 104, §2; am L 2005, c 196, §26(b); am L 2006, c 180, §16]
Structure Hawaii Revised Statutes
516-6 Administration of chapter.
516-7 Corporation's duties, generally.
516-8 Interested members, officers, or employees.
516-22 Designation of leased fee interest in all or part of development tract for acquisition.
516-23 Exercise of power of eminent domain.
516-26 Interest in compensation paid by the corporation.
516-27 Compulsory or involuntary conversion.
516-28 Disposition, generally.
516-30 Purchase of leased fee interest.
516-33 Qualification for purchase.
516-34 Mortgages, agreements of sale, other instruments.
516-35 Restrictions on sale and use of residential lots.
516-35.1 Foreclosure and sale by mortgagees.
516-40 Bonds as legal investments.
516-41 Exemption from taxation and assessments.
516-42 Investment of reserves.
516-43 Security for funds deposited.
516-45 General obligation bonds.
516-51 Preliminary negotiation required.
516-68 Rights to self-organization; remedies.
516-70 Reversion of improvements.
516-71 Residential lease; disclosure.
516-73 Suggested form of standardized summary of lease provisions.
516-83 Legislative findings and declaration of necessity; purpose.
516-101 Revenue bonds; authorization.
516-102 Revenue bonds; payment and security.
516-103 Revenue bonds; interest rate, price, and sale.
516-104 Revenue bonds; investment of proceeds and redemption.
516-107 Trustee; designation, duties.
516-111 Revenue bonds; special funds.
516-121 Acquisition loan programs; procedures and requirements.
516-122 Acquisition loan programs; general powers.
516-123 Acquisition loan programs; self supporting.
516-124 Acquisition loan programs; fees.
516-125 Acquisition loan programs; evidence of eligible loan.
516-131 Loans to lenders program.
516-132 Loan to lenders program; collateral security.
516-141 Purchase of existing loans program.
516-151 Advance commitments program.
516-161 Eligible loan funding program.
516-171 Loans; service and custody.
516-172 Loans; sale, pledge, or assignment.
516-173 Loans; insurance and guarantees.
516-182 Restrictions on sale and use of residential lots acquired from proceeds of eligible loan.