(1) The Corporation shall publish a notice in the Florida Administrative Register announcing its intention to provide funding for Qualified Mortgage Loans and inviting Qualified Lending Institutions to submit the Invitation and Application to Participate to the Corporation within the time frame designated by the Corporation under a specific bond issue. The Invitation and Application to Participate submitted by the Qualified Lending Institution shall indicate to the Corporation the amount of Qualified Mortgage Loans the Qualified Lending Institution anticipates originating for each type of qualified mortgage loan permitted under the program, unless funding is being offered by the Corporation on a first-come, first-served basis in which case lenders will not be required to specify an allocation amount.
    (2) The Corporation shall establish a minimum allocation amount for participation in a program or make funds available on a first-come, first-served basis based upon the amount of the bond issue, prior origination history and current market conditions. The Invitation and Application to Participate shall be accompanied by a statement from the Qualified Lending Institution indicating its experience in originating the Qualified Mortgage Loans in categories and areas requested, indicating the current financial condition of the Qualified Lending Institution and the location of the office or offices that will be originating Qualified Mortgage Loans.
Rulemaking Authority Florida Statutes § 420.507(12). Law Implemented 420.502, 420.507, 420.508 FS. History-New 4-15-87, Formerly 9I-25.005, Amended 12-16-03.