HF 412

as introduced - 82nd Legislature (2001 - 2002) Posted on 12/15/2009 12:00am

  1.1                          A bill for an act 
  1.2             relating to housing; prohibiting the housing finance 
  1.3             agency from excluding small-volume lenders from loan 
  1.4             programs; amending Minnesota Statutes 2000, section 
  1.5             462A.05, by adding a subdivision. 
  1.6   BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
  1.7      Section 1.  Minnesota Statutes 2000, section 462A.05, is 
  1.8   amended by adding a subdivision to read: 
  1.9      Subd. 8a.  [PARTICIPATING LENDERS.] It may not preclude an 
  1.10  otherwise qualified banking institution, savings association, or 
  1.11  other lender from participating in the agency's first-time 
  1.12  homebuyer and home improvement loan programs based upon the 
  1.13  number of loans processed or expected to be processed by the 
  1.14  lender.