Or. Admin. Code § 813-070-0050

Current through Register Vol. 63, No. 11, November 1, 2024

Section 813-070-0050 - Refusal of Program Loans; Disclosure

(1) An Approved Lender shall proceed in good faith to process a Program Loan application and make the Program Loan if:

(a) Loan funds are available;

(b) The application is complete;

(c) The application appears to comply with the Program rules, the Program's Procedural Guide, and the rules and regulations of the Federal Housing Administration; and

(d) The applicant appears to be an Eligible Borrower.

(2) Any person who is refused a Program Loan by an Approved Lender may, in writing, demand a written explanation as to the specific reasons for the refusal. The Approved Lender shall comply with such demand within thirty business days.

Or. Admin. Code § 813-070-0050

1HD 5-1983, f. & ef. 9-2-83; 1HD 12-1984, f. & ef. 9-4-84; HSG 3-1989(Temp), f. & cert. ef. 6-8-89; HSG 16-1989, f. & cert. ef. 11-3-89; HSG 2-1991(Temp), f. & cert. ef. 8-7-91; HSG 8-1991, f. & cert. ef. 12-23-91

Publications: The publication(s) referred to or incorporated by reference in this rule are available from the agency.

Stat. Auth.: ORS 90.800 - ORS 90.840, ORS 91.886, ORS 183, ORS 456.515 - ORS 456.723 & ORS 458.210 - ORS 458.650

Stats. Implemented: ORS 456.690