Sec. 2306.291. PURCHASE AND SALE OF MORTGAGE LOANS. (a) The department may purchase and take assignments from mortgage lenders or the federal government of notes and other obligations, including contracts for deed and mortgages, evidencing loans or interest in loans for the construction, remodeling, improvement, rehabilitation, purchase, leasing, or refinancing of housing developments for individuals and families of low and very low income and families of moderate income.
(b) The department may sell, at public or private sale, with or without public bidding, a mortgage or other obligation held by the department.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993. Amended by Acts 1997, 75th Leg., ch. 980, Sec. 39, eff. Sept. 1, 1997.
Structure Texas Statutes
Subtitle G - Economic Development Programs Involving Both State and Local Governments
Chapter 2306 - Texas Department of Housing and Community Affairs
Subchapter M. Housing Finance Division: Purchase and Sale of Mortgage Loans
Section 2306.291. Purchase and Sale of Mortgage Loans
Section 2306.292. Eligibility of Mortgage Loans for Purchase
Section 2306.293. Federally Assisted Mortgage Loans
Section 2306.294. Mortgage Loan Purchase Price
Section 2306.295. Rules Governing Purchase and Sale of Mortgage Loans
Section 2306.296. Review and Substitution of Purchased Mortgage Loans
Section 2306.297. Application of Provisions Relating to Loan Terms and Conditions