[§201H-102]  Loans to lenders program. (a)  The corporation may make loans to mortgage lenders under terms andconditions requiring that the loan proceeds be used within a time periodprescribed by the corporation to make eligible loans, eligible improvementloans, and eligible project loans in an aggregate principal amountsubstantially equal to the amount of the loan.

(b)  The loan made to a mortgage lender shallbe a general obligation of the respective mortgage lender.

(c)  The loan as determined by the corporationshall:

(1)  Bear a date or dates;

(2)  Mature at a time or times;

(3)  Be evidenced by a note, bond, or othercertificate of indebtedness;

(4)  Be subject to prepayment; and

(5)  Contain other provisions consistent with thispart.

(d)  Subject to any agreement with the holdersof its bonds, the corporation may consent to any modification to the rate ofinterest, time and payment of any installment of principal or interest,security, or any other term of any loan to a mortgage lender or any bond, note,contract, or agreement of any kind to which the corporation is a party. [L 2006,c 180, pt of §4]