Sec. 394.906. CONDITIONS UNDER WHICH FEDERAL GUARANTEE OR HOME MORTGAGE INSURANCE NOT REQUIRED. A home mortgage does not require a federal guarantee or home mortgage insurance if the principal of and interest on the housing finance corporation's bonds issued to make or purchase the home mortgage or to make loans to lending institutions are guaranteed or insured by an agency, department, or instrumentality of the United States or by an insurance or surety company authorized to issue municipal bond insurance.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Structure Texas Statutes
Title 12 - Planning and Development
Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government
Chapter 394 - Housing Finance Corporations in Municipalities and Counties
Subchapter Z. Miscellaneous Provisions
Section 394.901. Designation of Area as Economically Depressed or Blighted; Notice
Section 394.902. Housing for Elderly
Section 394.9025. Multifamily Residential Development
Section 394.903. Location of Residential Development; Residential Development Sites
Section 394.904. Exemption From Requirements and Restrictions Applying to Public Property
Section 394.905. Exemption From Taxation
Section 394.906. Conditions Under Which Federal Guarantee or Home Mortgage Insurance Not Required
Section 394.907. Corporation Powers Not Restricted; Police Powers Not Affected