Notwithstanding any other provision contained in the program rules, the Department shall not disburse funds for a loan until:

1. (1) The loan is secured by a fully executed trust deed note and first lien trust deed or other evidence of security; and
2. (2) The Eligible Borrower has satisfied all conditions contained in a Commitment.

Statutory/Other Authority

ORS 90.800 - 90.840, 91.886, 456.515 - 456.723 & 458.210 - 458.650

Statutes/Other Implemented

ORS 456.515 - 456.720

History

OHCS 2-2007, f. & cert. ef. 1-11-07
HSG 8-1991, f. & cert. ef. 12-23-91
HSG 2-1991(Temp), f. & cert. ef. 8-7-91
HSG 11-1989, f. & cert. ef. 11-3-89
HSG 3-1989(Temp), f. & cert. ef. 6-8-89
HSG 7-1987, f. & ef. 3-10-87
HSG 3-1987(Temp), f. & ef. 2-5-87
1HD 11-1984, f. & ef. 9-4-84
1HD 4-1979, f. & ef. 9-11-79
1HD 1-1979, f. & ef. 1-16-79
1HD 1-1978(Temp), f. & ef. 7-12-78