1. (1) An Approved Lender shall proceed in good faith to process a Program Loan application and make the Program Loan if:

   1. (a) Loan funds are available;
   2. (b) The application is complete;
   3. (c) The application appears to comply with the Program rules, the Program’s Procedural Guide, and the rules and regulations of the Federal Housing Administration; and
   4. (d) The applicant appears to be an Eligible Borrower.

2. (2) Any person who is refused a Program Loan by an Approved Lender may, in writing, demand a written explanation as to the specific reasons for the refusal. The Approved Lender shall comply with such demand within thirty business days.

   [Publications: Publications referenced are available from the agency.]

Statutory/Other Authority

ORS 90.800 - 90.840, 91.886, 183, 456.515 - 456.723 & 458.210 - 458.650

Statutes/Other Implemented

ORS 456.690

History

HSG 8-1991, f. & cert. ef. 12-23-91
HSG 2-1991(Temp), f. & cert. ef. 8-7-91
HSG 16-1989, f. & cert. ef. 11-3-89
HSG 3-1989(Temp), f. & cert. ef. 6-8-89
1HD 12-1984, f. & ef. 9-4-84
1HD 5-1983, f. & ef. 9-2-83