40 Tex. Admin. Code § 177.6 - Application Procedures
(a) The
administrator shall distribute to participating lenders all application
materials required for the program by the board. Participating lending
institutions may only charge fees that have been approved by the board. The
board may establish by resolution any procedures for obtaining the board's
approval of fees.
(b) The board
shall establish by resolution all policies, procedures, and requirements for
the submission and review of loan applications, including the certification of
eligibility of the veteran.
(c) If
the veteran has previously participated in the program, the veteran must have
satisfactorily paid in full all prior program loans in order to be eligible to
participate in the program again. If the veteran has an active Veterans Land
Program loan at the time of application, it must be in good standing.
(d) The board may establish by resolution all
other procedures and policies relating to the submission, review, processing,
approval, and funding of program loans. In doing so, the board shall review the
prudent lending practices prevalent in the residential mortgage lending
industry and shall follow such practices to the maximum extent
practical.
Notes
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