Section 15-161-1 - Purpose These rules are adopted under chapter 91, HRS, and implements part III, chapter 2016, HRS, the housing loan and mortgage programs, also known as the hulamae single family program, and the following objectives:
(1) Alleviate the shortage of long-term mortgage financing at affordable interest rates;(2) Make funds available at affordable interest rates, through mortgage lenders, to permit the purchase of homes by resident families of lower and moderate income; and(3) Assure effective participation by mortgage lenders in the programs authorized by part III, chapter 2016, HRS and the restriction of their financial return from the programs to that necessary and reasonable to induce their participation. [Eff OCT 25 1999] (Auth: HRS § 2016-187) (Imp: HRS § 2016-188)