Maine Revised Statutes Title 30-A. Municipalities and Counties § 4803. Issuance of bonds; rules

A. The interest rate and terms of institutional loans to be made to participating financial institutions;

B. The time within which participating financial institutions must make commitments and disbursements for mortgage loans;

C. The type and amount of collateral security to be pledged by participating financial institutions to ensure repayment of institutional loans from the Maine State Housing Authority as provided in section 4806;

D. Standards as to the construction or rehabilitation for the housing units or housing projects to be financed;

E. Procedures for the submission of requests or the invitation of proposals for institutional loans;

F. Schedules of fees and other charges to be made by the Maine State Housing Authority or the participating financial institution, or both, in accepting, acting upon or renewing applications for institutional loans or mortgage loans under this section;

G. Limiting the rate of return on mortgage loans made by participating financial institutions;

H. Establishing the time within which participating financial institutions will invest the proceeds of the institutional loans in mortgage loans; and

I. Any other matters related to institutional loans or mortgage loans that the Maine State Housing Authority considers necessary.