Section 15-165-1 - Purpose These rules are adopted pursuant to Chapter 91, Hawaii Revised Statutes ("HRS"), to implement sections 2016-241 through 2016-244, HRS, and sections 2016-161, 2016-164 through 2016-167, 2016-170, HRS, pertaining to the issuance and sale of taxable mortgage securities for the general purpose of raising funds:
(1) To provide mortgage financing at affordable or prevailing market interest rates to persons and families, who meet the criteria of being eligible borrowers, to purchase a home;(2) To make commitments to provide mortgage financing for the purchase of homes in projects, developments and elsewhere as a means of encouraging the development of affordable housing; and(3) To provide interim or permanent loans to finance affordable housing projects. [Eff OCT 25 1999] (Auth: HRS § 2016-4, 2016-243) (Imp: HRS §§ 2016-241-2016-244, 2016-161, 2016-164-2016-167, 2016-170)