Tex. Local Gov't Code Section 394.041
Standards for Mortgages or Loans

A housing finance corporation may establish by rule, in resolutions or financing documents relating to the issuance of bonds, standards and requirements applicable to making or purchasing home mortgages or making loans to lending institutions as considered necessary or desirable by the corporation, including standards and requirements related to:

(1)

the time within which lending institutions must make commitments and disbursements for home mortgages;

(2)

the location and other characteristics of homes financed by home mortgages;

(3)

the terms of home mortgages made or acquired;

(4)

the amounts and types of insurance coverage required on homes, home mortgages, and bonds;

(5)

the representations and warranties of lending institutions confirming compliance with the standards and requirements;

(6)

restrictions as to interest rates and other terms of home mortgages or as to the return realized on those mortgages by lending institutions;

(7)

the type and amount of collateral security required on a loan from the corporation and to assure repayment of bonds; and

(8)

other matters regarding the making or purchasing of home mortgages or the making of loans to lending institutions as the corporation considers relevant.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.

Source: Section 394.041 — Standards for Mortgages or Loans, https://statutes.­capitol.­texas.­gov/Docs/LG/htm/LG.­394.­htm#394.­041 (accessed Jun. 5, 2024).

394.001
Short Title 394.002
Purpose 394.003
Definitions 394.004
Application of Chapter to Certain Residential Developments 394.005
Application of Chapter to Property in Certain Municipalities 394.011
Application for Incorporation 394.012
Application for Incorporation Of, and Other Special Provisions For, Joint Corporation 394.013
Incorporators 394.014
Articles of Incorporation 394.015
Filing of Articles of Incorporation 394.016
Amendment of Articles of Incorporation 394.017
Filing of Articles of Amendment 394.021
Board of Directors 394.022
Organizational Meeting 394.023
Disposition of Corporate Earnings 394.024
Registered Office and Agent 394.025
Corporate Books and Records 394.026
Dissolution of Corporation 394.027
Annual Report 394.031
Exercise of Powers 394.032
General Powers 394.033
Corporate Name 394.034
Officers 394.035
Bylaws 394.036
Acceptance of Financial Assistance 394.037
Bonds 394.038
Acquisition of Shares or Obligations 394.039
Specific Powers Relating to Financial and Property Transactions 394.040
Transactions with Lending Institutions 394.041
Standards for Mortgages or Loans 394.042
Disposal of Residential Developments or Home Mortgages 394.051
Bonds 394.052
Bond Covenants 394.053
Validity of Bonds 394.054
Security for Bonds 394.055
Liability for Bonds and Contracts 394.056
Bond as Security 394.057
Bond as Authorized Investment or as Security for Deposit 394.901
Designation of Area as Economically Depressed or Blighted 394.902
Housing for Elderly 394.903
Location of Residential Development 394.904
Exemption from Requirements and Restrictions Applying to Public Property 394.905
Exemption from Taxation 394.906
Conditions Under Which Federal Guarantee or Home Mortgage Insurance Not Required 394.907
Corporation Powers Not Restricted 394.9025
Multifamily Residential Development
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 394.041’s source at texas​.gov