Texas Government Code 1372.0223 – Dedication of Portion of State Ceiling to Certain Issuers of Qualified Mortgage Bonds
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Terms Used In Texas Government Code 1372.0223
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
Until August 7, out of that portion of the state ceiling that is available exclusively for reservations by issuers of qualified mortgage bonds under § 1372.022:
(1) 10 percent is available exclusively to the Texas State Affordable Housing Corporation for the purpose of issuing qualified mortgage bonds; and
(2) 56.66 percent is available exclusively to housing finance corporations for the purpose of issuing qualified mortgage bonds.