67-45.006. Loan Processing  


Effective on Sunday, December 7, 2003
  • 1(1) All applications and Loans are processed by the Participating Lenders in accordance with each Participating Lender’s standard underwriting criteria and any additional criteria imposed by FHA, VA, FannieMae, Freddie Mac, RD or other parties insuring or guaranteeing the First Mortgage loan.

    43(2) Loan applications shall be reviewed by the lender originating the First Mortgage on the basis of first-come, first-served.

    62(3) If sufficient funds are not available in the full amount of the Loan as requested, the application shall be deferred to a waiting list maintained by the Corporation or its designee on a first-come, first-served basis. Such application shall be considered as soon as sufficient funds become available to finance the Loan.

    115Rulemaking 116Authority 117420.507(12), 118(23) FS. Law Implemented 122420.5088 FS. 124History–New 8-7-95, Formerly 9I-45.006, Amended 12-26-99, 10-29-01, 12-7-03.

     

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