761 Mass. Reg. 10.02
The Commitment Amount requested by any Seller shall be in a multiple of $50,000 with a minimum of $250,000 and a maximum of $2,500,000. The Commitment Amount shall equal 90% of the unpaid principal balance of the Mortgage Loans in which Loan Participations are offered for sale to MHMFA or contracted for purchase from the Seller, as the case may be. MHMFA shall specify in its Notice of Acceptance, if any, the Commitment Amount accepted and the portion of the Commitment Amount allocated to a Neighborhood Preservation Area, if such allocation was requested in the Commitment Application. Upon such acceptance, the Seller shall be obligated to deliver and sell to MHMFA Loan Participations in the Commitment Amount specified and to allocate the specified portion of the Commitment Amount for Loan Participations in Mortgage Loans financing the purchase or rehabilitation of property in such Neighborhood Preservation Areas.
761 CMR 10.02