(a) The board shall have the specific duty and power to adopt underwriting standards for:
- (1) loans made or financed by the housing finance division; and
- (2) housing tax credits allocated by the department.
- (b) Underwriting standards adopted under Subsection (a)(2) and used to determine the feasibility of a proposed development must be consistent with criteria established under Section 2306.185.
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
Acts 2015, 84th Leg., R.S., Ch. 643 (S.B. 1989), Sec. 1, eff. September 1, 2015.