15 AAC 151.900. Purchases of loans from sellers and servicers

(a) In addition to the requirements for sellers established in 15 AAC 150.080, the Corporation will not purchase a loan from a seller under this chapter unless the seller is:

(1) approved by GNMA, FHA, and VA for federally insured or guaranteed loans;

(2) approved by FNMA and FHLMC for conventional loans; or

(3) a regional housing authority under AS 18.55.

(b) In addition to the requirements for servicers established in 15 AAC 150.090, the Corporation will not enter into a servicing agreement with respect to loans purchased by the Corporation under this chapter unless the servicer satisfies at least one of the requirements listed in 15 AAC 151.900(a) .

History: Eff. 5/7/93, Register 130

Authority: AS 18.56.088

Editor's note: Before Register 130, July, 1994, the substance of 15 AAC 151.900 was contained in former 15 AAC 113.260. The history note for 15 AAC 151.900 does not reflect the history of the section under its former number.

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