Sec. 2306.148. UNDERWRITING STANDARDS. (a) The board shall have the specific duty and power to adopt underwriting standards for:
(1) loans made or financed by the housing finance division; and
(2) housing tax credits allocated by the department.
(b) Underwriting standards adopted under Subsection (a)(2) and used to determine the feasibility of a proposed development must be consistent with criteria established under Section 2306.185.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
Amended by:
Acts 2015, 84th Leg., R.S., Ch. 643 (S.B. 1989), Sec. 1, eff. September 1, 2015.
Structure Texas Statutes
Subtitle G - Economic Development Programs Involving Both State and Local Governments
Chapter 2306 - Texas Department of Housing and Community Affairs
Subchapter G. Housing Finance Division: General Powers and Duties of Board
Section 2306.142. Authorization of Bonds
Section 2306.143. Alternative to Subprime Lender List
Section 2306.144. Fees for Services and Facilities; Payment of Department Obligations and Expenses
Section 2306.145. Loan Procedures
Section 2306.146. Interest Rates and Amortization Schedules
Section 2306.147. Fees and Penalties
Section 2306.148. Underwriting Standards
Section 2306.149. Approved Mortgage Lenders
Section 2306.150. Property Standards