New Hampshire Revised Statutes 204-C:9 – Rulemaking Authority
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The authority may adopt rules pursuant to its own procedures relative to:
I. The conduct of its business;
II. The making, purchasing and sale of loans and mortgage loans under this chapter and the application of proceeds of any sale;
III. The making of loans to lending institutions;
IV. The regulation of mortgagors and eligible elderly and low income persons and families and eligible persons and families;
V. The selection and admission of tenants and other occupants;
VI. The selection of owners;
VII. The uses of housing;
VIII. The establishment of dependency and medical allowances;
IX. The definition of dwelling unit;
X. Lending institutions acting as agents of the authority for the purpose of accepting, reviewing and acting upon applications for mortgage loans and preparing, processing and servicing such loans;
XI. Reasonable fees to be paid to lending institutions for the services described in paragraph X;
XII. The making of loans to or purchasing of securities from lending institutions and the application of the proceeds of the loans, including, without limitation:
(a) The interest rate and terms of loans to be made to lending institutions;
(b) The time within which lending institutions must make commitments and disbursements for mortgages;
(c) The type and amount of collateral security to be pledged by lending institutions to assure repayment of loans from the agency;
(d) Standards as to the construction or rehabilitation for the housing to be financed;
(e) Procedures for the submission of requests or the invitation of proposals for loans to lending institutions;
(f) Certificates of compliance by the lending institution with the terms and conditions governing the making of loans and purchase of securities, and the application of the proceeds of such loans and securities;
(g) Schedules of fees and other charges to be made by the authority and the lending institution in renewing, acting upon, or accepting applications for loans under N.H. Rev. Stat. § 204-C:19, and any other matters related to such loans as the authority may deem necessary;
XIII. Such other matters as are necessary to carry out the powers and duties of the agency.
I. The conduct of its business;
Terms Used In New Hampshire Revised Statutes 204-C:9
- Authority: shall mean the New Hampshire housing finance authority. See New Hampshire Revised Statutes 204-C:1
- Elderly: shall mean a person who qualifies to live in housing for older persons, as defined in N. See New Hampshire Revised Statutes 204-C:1
- Eligible persons and families: shall mean a person or persons, and families of 2 or more persons, irrespective of race, creed, national origin, sex, or gender identity, determined by the authority to require assistance under this chapter on account of insufficient personal or family income taking into consideration, without limitation, such factors as follows: (a) the amount of the total income of such persons and families available for housing needs; (b) the size of the family; (c) the cost and condition of housing facilities available; (d) the ability of such persons and families to compete successfully in the normal private housing market and to pay the amounts at which private enterprise is providing decent, safe and sanitary housing; and (e) if appropriate, standards established for various federal programs determining eligibility based on income of such persons and families. See New Hampshire Revised Statutes 204-C:1
- Housing: shall mean one or more new or existing dwelling units in the state financed pursuant to this chapter, including homes for persons with disabilities, mobile homes, prefabricated homes, any buildings, land, improvements, equipment, facilities or other real or personal properties which are deemed by the authority to be necessary, convenient, ancillary or desirable in connection with such dwelling units, and including, but not limited to, streets, sewers, utilities, parks, site preparation, off-site facilities, landscaping and other nonhousing facilities such as administrative, community, transportation, health, recreational, educational, commercial, retail, welfare and public facilities. See New Hampshire Revised Statutes 204-C:1
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
- Lending institution: shall mean any bank or trust company; Federal National Mortgage Association approved mortgage banker; savings bank; credit union; national banking association; insurance company; financial institution or governmental agency which customarily provides service or otherwise aids in the financing of mortgages located in the state. See New Hampshire Revised Statutes 204-C:1
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage: shall mean a mortgage deed, deed of trust, or other instrument which shall constitute or create a security interest in tangible personal property constituting housing, or a lien on real property or on a leasehold under a lease having a remaining term, at any time such mortgage is acquired, which does not expire for at least that number of years beyond the maturity date of the obligation secured by such mortgage as is established by the authority as necessary to protect its interest as mortgagee. See New Hampshire Revised Statutes 204-C:1
II. The making, purchasing and sale of loans and mortgage loans under this chapter and the application of proceeds of any sale;
III. The making of loans to lending institutions;
IV. The regulation of mortgagors and eligible elderly and low income persons and families and eligible persons and families;
V. The selection and admission of tenants and other occupants;
VI. The selection of owners;
VII. The uses of housing;
VIII. The establishment of dependency and medical allowances;
IX. The definition of dwelling unit;
X. Lending institutions acting as agents of the authority for the purpose of accepting, reviewing and acting upon applications for mortgage loans and preparing, processing and servicing such loans;
XI. Reasonable fees to be paid to lending institutions for the services described in paragraph X;
XII. The making of loans to or purchasing of securities from lending institutions and the application of the proceeds of the loans, including, without limitation:
(a) The interest rate and terms of loans to be made to lending institutions;
(b) The time within which lending institutions must make commitments and disbursements for mortgages;
(c) The type and amount of collateral security to be pledged by lending institutions to assure repayment of loans from the agency;
(d) Standards as to the construction or rehabilitation for the housing to be financed;
(e) Procedures for the submission of requests or the invitation of proposals for loans to lending institutions;
(f) Certificates of compliance by the lending institution with the terms and conditions governing the making of loans and purchase of securities, and the application of the proceeds of such loans and securities;
(g) Schedules of fees and other charges to be made by the authority and the lending institution in renewing, acting upon, or accepting applications for loans under N.H. Rev. Stat. § 204-C:19, and any other matters related to such loans as the authority may deem necessary;
XIII. Such other matters as are necessary to carry out the powers and duties of the agency.