WILLIAM DONALD SCHAEFER, Governor

LOCATED IN OR SERVING COMMUNITIES OR NEIGHBORHOODS IN THE
STATE HAVING URGENT NEEDS FOR REINVESTMENT DUE TO
DETERIORATING SOCIAL OR ECONOMIC CONDITIONS;

(2) CONFORM TO SPECIFIC ELIGIBILITY GUIDELINES AND
FINANCING POLICIES CONSISTENT WITH THIS SECTION AS DEVELOPED
BY THE BOARD AND APPROVED BY THE SECRETARY; AND

(3) BE SUBMITTED TO AND APPROVED BY THE LOAN
COMMITTEE APPOINTED BY THE BOARD.

(B) (Q (1) APPLICATIONS FOR COMMUNITY REINVESTMENT
ASSISTANCE SHALL BE MADE TO THE DEPARTMENT, TO THE
DEPARTMENT OF ECONOMIC AND EMPLOYMENT DEVELOPMENT, OR TO
ENTITIES CONTRIBUTING TO THE FUND, OR, IF PERMITTED BY THE
BOARD, DIRECTLY TO THE FUND.

(2) THE DEPARTMENT AND THE DEPARTMENT OF ECONOMIC
AND EMPLOYMENT DEVELOPMENT MAY ASSIST PROVIDE TECHNICAL
ASSISTANCE IN THE UNDERWRITING OR REVIEW OF ANY LOANS FOR
WHICH APPLICATIONS HAVE BEEN SUBMITTED.

(3) THE LOAN COMMITTEE SHALL ACT ON THE BASIS OF THE
REVIEW AND RECOMMENDATION OF EACH APPLICATION AS PRESENTED
TO THE COMMITTEE BY THE PARTIES LISTED IN PARAGRAPH (1) OF THIS
SUBSECTION.

10-109.

THE BOARD MAY PROVIDE COMMUNITY REINVESTMENT
ASSISTANCE BY:

(1) INVESTING IN, PURCHASING, MAKING COMMITMENTS TO
PURCHASE, OR TAKING ASSIGNMENTS FROM MORTGAGE LENDERS OF
NOTES AND MORTGAGES EVIDENCING MORTGAGE LOANS;

(2) FUNCTIONING AS A GUARANTOR OR CONDUIT FOR
MORTGAGE BACKED SECURITIES;

(3) MAKING LOANS TO RECIPIENTS OF COMMUNITY
REINVESTMENT ASSISTANCE OR TO MORTGAGE LENDERS UNDER THE
PROVISIONS OF THIS TITLE;

(4) SELLING, AT PUBLIC OR PRIVATE SALE, ANY MORTGAGE,
LOAN, OR OTHER OBLIGATION HELD BY THE FUND;

(5) PURCHASING, MAKING, PARTICIPATING IN THE MAKING,
OR ENTERING INTO COMMITMENTS FOR THE PURCHASE OF LOANS;

(6) PACKAGING AND SELLING LOANS; AND

(7) ANY OTHER MEANS AUTHORIZED UNDER THE

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