§ 36-55.32. Powers relative to purchase and sale to mortgage lenders ofmortgage loans; loans to mortgage lenders.
The HDA shall have all the powers necessary or convenient to carry out andeffectuate the purposes and provisions of this chapter, including thefollowing powers in addition to others herein granted:
(1) To invest in, purchase or to make commitments to purchase, and takeassignments from mortgage lenders, of notes and mortgages evidencing loansfor the construction, rehabilitation, purchase, leasing or refinancing ofresidential housing for persons and families of low and moderate income inthis Commonwealth upon the terms set forth in § 36-55.35;
(2) To make loans to mortgage lenders under terms and conditions requiringthe proceeds thereof to be used by such mortgage lenders for the making ofnew residential mortgage loans to finance multi-family or single-familyresidential housing for persons and families of low and moderate income, uponthe terms set forth in § 36-55.35;
(3) To make commitments to purchase, and to purchase, service and sellmortgages insured by any department, agency or instrumentality of the UnitedStates, and to make loans directly upon the security of any such mortgage,provided the underlying mortgage loans shall have been made and shall becontinued to be used solely to finance or refinance the construction,rehabilitation, purchase or leasing of residential housing for persons andfamilies of low and moderate income in this Commonwealth;
(4) To sell, at public or private sale, with or without public bidding, anymortgage or other obligation held by HDA;
(5) To enter into mortgage insurance agreements with mortgage lenders inconnection with the lending of money by such institutions to persons andfamilies of low and moderate income for the purchase of residential housing;
(6) Subject to any agreement with bondholders or noteholders, to collect,enforce the collection of, and foreclose on any collateral securing its loansto mortgage lenders and acquire or take possession of such collateral andsell the same at public or private sale, with or without public bidding, andotherwise deal with such collateral as may be necessary to protect theinterests of HDA therein.
§ 36-55.32. Powers relative to purchase and sale to mortgage lenders ofmortgage loans; loans to mortgage lenders.
The HDA shall have all the powers necessary or convenient to carry out andeffectuate the purposes and provisions of this chapter, including thefollowing powers in addition to others herein granted:
(1) To invest in, purchase or to make commitments to purchase, and takeassignments from mortgage lenders, of notes and mortgages evidencing loansfor the construction, rehabilitation, purchase, leasing or refinancing ofresidential housing for persons and families of low and moderate income inthis Commonwealth upon the terms set forth in § 36-55.35;
(2) To make loans to mortgage lenders under terms and conditions requiringthe proceeds thereof to be used by such mortgage lenders for the making ofnew residential mortgage loans to finance multi-family or single-familyresidential housing for persons and families of low and moderate income, uponthe terms set forth in § 36-55.35;
(3) To make commitments to purchase, and to purchase, service and sellmortgages insured by any department, agency or instrumentality of the UnitedStates, and to make loans directly upon the security of any such mortgage,provided the underlying mortgage loans shall have been made and shall becontinued to be used solely to finance or refinance the construction,rehabilitation, purchase or leasing of residential housing for persons andfamilies of low and moderate income in this Commonwealth;
(4) To sell, at public or private sale, with or without public bidding, anymortgage or other obligation held by HDA;
(5) To enter into mortgage insurance agreements with mortgage lenders inconnection with the lending of money by such institutions to persons andfamilies of low and moderate income for the purchase of residential housing;
(6) Subject to any agreement with bondholders or noteholders, to collect,enforce the collection of, and foreclose on any collateral securing its loansto mortgage lenders and acquire or take possession of such collateral andsell the same at public or private sale, with or without public bidding, andotherwise deal with such collateral as may be necessary to protect theinterests of HDA therein.
§ 36-55.32. Powers relative to purchase and sale to mortgage lenders ofmortgage loans; loans to mortgage lenders.
The HDA shall have all the powers necessary or convenient to carry out andeffectuate the purposes and provisions of this chapter, including thefollowing powers in addition to others herein granted:
(1) To invest in, purchase or to make commitments to purchase, and takeassignments from mortgage lenders, of notes and mortgages evidencing loansfor the construction, rehabilitation, purchase, leasing or refinancing ofresidential housing for persons and families of low and moderate income inthis Commonwealth upon the terms set forth in § 36-55.35;
(2) To make loans to mortgage lenders under terms and conditions requiringthe proceeds thereof to be used by such mortgage lenders for the making ofnew residential mortgage loans to finance multi-family or single-familyresidential housing for persons and families of low and moderate income, uponthe terms set forth in § 36-55.35;
(3) To make commitments to purchase, and to purchase, service and sellmortgages insured by any department, agency or instrumentality of the UnitedStates, and to make loans directly upon the security of any such mortgage,provided the underlying mortgage loans shall have been made and shall becontinued to be used solely to finance or refinance the construction,rehabilitation, purchase or leasing of residential housing for persons andfamilies of low and moderate income in this Commonwealth;
(4) To sell, at public or private sale, with or without public bidding, anymortgage or other obligation held by HDA;
(5) To enter into mortgage insurance agreements with mortgage lenders inconnection with the lending of money by such institutions to persons andfamilies of low and moderate income for the purchase of residential housing;
(6) Subject to any agreement with bondholders or noteholders, to collect,enforce the collection of, and foreclose on any collateral securing its loansto mortgage lenders and acquire or take possession of such collateral andsell the same at public or private sale, with or without public bidding, andotherwise deal with such collateral as may be necessary to protect theinterests of HDA therein.
