HRS §201H-105
Agreements to buy eligible loans in advance
This section lets the housing corporation make contracts with mortgage lenders to buy certain loans in advance. The contracts can include terms the corporation needs to protect its bonds. It also allows project loans for housing on Hawaiian home lands under the Hawaiian Homes Commission Act.
borrowersdevelopersmortgage lenders
The statute, as written — Advance commitments program
(a) The corporation may contract with a mortgage lender for the advance commitment to purchase eligible loans, eligible improvement loans, or eligible project loans. (b) The contract may contain provisions as determined by the corporation to be necessary or appropriate to provide security for its bonds. Notwithstanding any other law to the contrary, project loans may be made available for housing projects on Hawaiian home lands pursuant to the Hawaiian Homes Commission Act, 1920, as amended.
LawTrove is not legal advice. The summary above is a computer-generated restatement — the authoritative text is the official version linked above.