Notwithstanding the provisions of ORS § 456.625 (7) and except for loans made solely to provide assistance with down payments or closing costs, the Housing and Community Services Department may not make any single-family residential loan directly to any individual unless the Legislative Assembly or Emergency Board finds that private lending institutions are unwilling or unable to participate in the department’s single-family residential loan programs or portions of those programs under ORS § 456.548 to 456.725. [1981 c.504 § 12; 1995 c.79 § 253; 2023 c.193 § 17]