HARRY HUGHES,

Governor

1401

(II)   ACQUISITION OF REAL OR PERSONAL
PROPERTY, OR INTEREST IN THE PROPERTY, BY GIFT, PURCHASE,
FORECLOSURE, OR OTHERWISE AND SALE OR OTHER DISPOSITION OF
THE PROPERTY OR INTEREST;

(III)  OBTAINING OF INSURANCE AGAINST LOSS
IN CONNECTION WITH ITS PROPERTY AND OTHER ASSETS, INCLUDING
MORTGAGE LOANS, IN THE AMOUNT AND FROM THE INSURERS THAT THE
ADMINISTRATION CONSIDERS DESIRABLE;

(IV)   ENTERING INTO CONTRACTS TO SERVICE
MORTGAGE LOANS OR INTERESTS IN THEM THAT THE ADMINISTRATION
HOLDS OR TAKES AS COLLATERAL;

(V)    ENTERING INTO CONTRACTS OR
COMMITMENTS THAT RELATE TO THE EXERCISE OF THESE POWERS.

(B) THE ADMINISTRATION MAY ADOPT RULES, IN THE FORM
OF REGULATIONS OS PROGRAM DIRECTIVES, AS APPROPRIATE, THAT
GOVERN THE EXERCISE OF THE POWERS CONFERRED BY THIS SECTION,
INCLUDING:

(1)    PROCEDURES FOR THE SUBMISSION OF REQUESTS
FOR THE PURCHASE AND SALE OF MORTGAGE LOANS OR FOR LOANS TO
THE MORTGAGE LENDERS;

(2)    LIMITATIONS OR RESTRICTIONS AS TO THE
NUMBER OF FAMILY UNITS, LOCATIONS, OR OTHER QUALIFICATIONS
OR CHARACTERISTICS OF DWELLING ACCOMMODATIONS TO BE FINANCED
BY RESIDENTIAL MORTGAGE LOANS;

(3)    RESTRICTIONS AS TO THE INTEREST RATE ON A
LOAN MADE FROM THE PROCEEDS OF PURCHASE OF MORTGAGE LOANS OR
FROM THE PROCEEDS OF A LOAN TO MORTGAGE LENDERS OR AS TO THE
RETURN REALIZED BY MORTGAGE LENDERS FROM THE LOAN;

(4)    RESTRICTIONS ON MATURITIES AND OTHER TERMS
OF LOANS MADE FROM THE PROCEEDS OF PURCHASE OF MORTGAGE
LOANS OR FROM THE PROCEEDS OF LOANS TO MORTGAGE LENDERS;

(5)    REQUIREMENTS AS TO THE APPLICATION BY
MORTGAGE LENDERS OF THE PROCEEDS OF THE PURCHASES OR LOANS;

(6)    SCHEDULES OF FEES AND CHARGES NECESSARY TO
PROVIDE FOR EXPENSES AND RESERVES OF THE ADMINISTRATION;

(7)    CRITERIA FOR ALLOCATION OF FUNDS AMONG
AREAS OF THE STATE AND AMONG MORTGAGE LENDERS;

(8)    WARRANTIES, REPRESENTATIONS,
CERTIFICATIONS, RIGHTS OF INSPECTION     AND AUDIT, PROGRAM
SANCTIONS, AND OTHER METHODS OF ASSURING   COMPLIANCE WITH THE
TERMS OF PURCHASE COMMITMENTS AND LOANS;   AND

(9)    ANY OTHER MATTERS RELATED TO EXERCISE OF
THE POWERS OF THE ADMINISTRATION UNDER THIS SECTION.