La. Admin. Code tit. 16, § I-343 - Allocation of Funds for Insured Mortgage Loan Purchases
A. The agency shall in its sole discretion
reduce the amount of each offer to participate to an amount it deems reasonable
in the event that the agency receives offers to originate more insured mortgage
loans than is practical. Such reduction shall be on a pro rata basis, provided
that the agency may consider the historic origination experiences of the
lending institutions and related factors. Priorities for allocation of agency
moneys available for the purchase of insured mortgage loans may be established
and reviewed by the agency. Priorities shall be based on criteria established
by the agency as best effectuating the purposes of the Act including, without
limitation, a determination by the agency of an area's need for housing for
persons or families of low or moderate income as compared to the agency's
determination of the overall housing needs of the area.
Notes
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