(a) The corporation may establish procedures and requirements for:
- (1) The purchase of loans from mortgage lenders by auction, invitation of tender, advance commitment, or other negotiation;
- (2) The making of loans through mortgage lenders to eligible borrowers or qualified sponsors;
- (3) The allocation to mortgage lenders of money made available under this subpart; and
- (4) The participation by mortgage lenders as originators and processors of loans on behalf of the corporation under this subpart.
- (b) The corporation may adopt rules under chapter 91 necessary or convenient for the operation of the housing loan programs established under this subpart.
[L 2006, c 180, pt of §4]