HRS §516-161
How the corporation funds eligible loans
This section lets the corporation make loans itself or hire mortgage lenders to fund eligible loans. It can also make contracts that protect its revenue bonds. It is a short, procedural rule about how the program is run.
borrowersmortgage lenders
The statute, as written — Eligible loan funding program
(a) The corporation may make or contract directly with mortgage lenders to fund 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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