Minn. R. agency 109, ch. 1653, pt. 1653.0081
Within 30 days after receipt of a lender's offer the RFA shall accept or reject the lender's offer to participate in the loan. If the documentation is not sufficient to make a determination, the RFA may request additional information to establish the creditworthiness and eligibility of an applicant.
The RFA shall accept applications if:
The RFA shall notify the lender in writing whether or not an offer is accepted. If the offer is not accepted, the notice must state the reasons.
If an offer is rejected, either the lender or the applicant may petition for RFA reconsideration. The petition must be in writing and must be sent within 30 working days of the date of the RFA notice. The petition must state the grounds for the appeal, and may include additional relevant information. Within 15 working days of receiving the petition, the RFA program director shall send a written response to the petitioner upholding or reversing the original decision and giving the reasons for the decision.
After administrative appeal, a petitioner may appeal the program director's decision directly to the RFA board by written notice to the director within 15 days of receiving the director's reconsideration decision. The decision of the board is final.
Minn. R. agency 109, ch. 1653, pt. 1653.0081
Statutory Authority: MS s 41B.07; 41C.13