HRS §516-151
Advance commitments to buy eligible loans
This section lets the Hawaii Housing Finance and Development Corporation make contracts with mortgage lenders to promise to buy certain loans in advance. The contract can include whatever terms the corporation thinks are needed to protect its revenue bonds.
mortgage lendersstate agencies
The statute, as written — Advance commitments program
(a) The corporation may contract with a mortgage lender for the advance commitment to purchase eligible loans. (b) The contract may contain provisions as determined by the corporation to be necessary or appropriate to provide security for its revenue bonds.
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