[§201H-143]  Housing loan programs;
procedures and requirements.  (a)  The corporation may establish procedures
and requirements for:



(1)  The purchase of loans from mortgage lenders by
auction, invitation of tender, advance commitment, or other negotiation;



(2)  The making of loans through mortgage lenders to
eligible borrowers or qualified sponsors;



(3)  The allocation to mortgage lenders of money made
available under this subpart; and



(4)  The participation by mortgage lenders as
originators and processors of loans on behalf of the corporation under this
subpart.



(b)  The corporation may adopt rules under
chapter 91 necessary or convenient for the operation of the housing loan
programs established under this subpart. [L 2006, c 180, pt of §4]