99- 346 C.M.R. ch. 30, § 8 - Amortizing Debt
When MSHA financing includes amortizing debt payable to MSHA, the financing shall be subject to the following:
A.
Underwriting Standards.
Program Guides shall set forth underwriting criteria which may include, without
limitation, debt to income ratios, credit history, assets, and employment
stability.
B.
Appraisals. MSHA may require an appraisal in a form satisfactory to MSHA
to determine whether there is adequate value in a Project and may require
Applicants to reimburse MSHA for appraisal costs.
Notes
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