Section 2306.295 - Rules Governing Purchase and Sale of Mortgage Loans The department shall adopt rules governing the purchase and sale of mortgage loans and the application of sale proceeds, including rules governing:
(1) procedures for submitting requests or inviting proposals for the purchase and sale of mortgage loans or interest in the mortgage loans;(2) restrictions on the number of family units, location, or other qualifications of residences to be financed by residential mortgage loans;(3) income limits of individuals and families of low and very low income or families of moderate income occupying a residence financed by a residential mortgage loan;(4) restrictions relating to the interest rates on mortgage loans or the return realized by mortgage lenders;(5) requirements for commitments by mortgage lenders relating to mortgage loans;(6) schedules of fees and charges necessary for expenses and reserves of the housing finance division;(7) resale of the housing development; and(8) any other matter related to the power of the department to purchase and sell mortgage loans or interests in mortgage loans.Tex. Gov't. Code § 2306.295
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. 9/1/1993.