United States — Maine Act or statute

United States — Maine legislation

Maine Revised Statutes, Title 30-A, § 4802: Institutional loans, 1987

The Maine State Housing Authority may make institutional loans to financial institutions for low-income housing financing, and certain participating financial institutions must use an in-state institution to originate…

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eligible mortgage loansinstitutional loansmortgage lending

Jurisdiction: United States — Maine
Structure: 1 provisions
Official identity: Year 1987
Dates: Enacted 1987 · Source version 1 Oct 2025

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Dates: Enacted 1987 · Source version 1 Oct 2025

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“The Maine State Housing Authority may make institutional loans to financial institutions for low-income housing financing, and certain participating financial institutions must use an in-state institution to originate mortgage loans.”

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Enacted 1987 · Source version 1 Oct 2025. The date shown identifies this source expression and should not be treated as proof that no later change exists.
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Institutional loans

Section 4802

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Source record from legislature.maine.gov · Enacted 1987 · Source version 1 Oct 2025

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§ 4802Institutional loansProvision

Source excerpt

1. Loans authorized. The Maine State Housing Authority may make loans to financial institutions for the purpose of providing mortgage funds for the financing of housing units or housing projects for persons or families of low income. These loans are referred to in this subchapter as "institutional loans." Financial institutions receiving or to receive such loans are referred to in this subchapter as "participating financial institutions." A participating financial institution which does not maintain a regular place of business in the State must contract for the origination of mortgage loans with a financial institution with a regular place of business in the State. [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).] 2. Eligible mortgage loans. Eligible mortgage loans under this subchapter are mortgage loans for the purpose of: A. Acquiring one-family or multi-family housing units, housing projects and improvements located on an Indian reservation in the State; [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).] B. Rehabilitating housing units or housing projects or to promote the conservation of energy resources; [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).] C. Constructing, reconstructing or developing housing units or housing projects; and [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).] D. Purchasing manufactured housing. [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).] [PL 1987, c. 737, Pt. A, §2 (NEW); PL 1987, c. 737, Pt. C, §106 (NEW); PL 1989, c. 6 (AMD); PL 1989, c. 9, §2 (AMD); PL 1989, c. 104, Pt. C, §§8, 10 (AMD).]

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1 Oct 2025 · currentEnglish

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