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2002 SESSION
(HB1306)AMENDMENT(S) REJECTED BY THE HOUSE
DEL. DRAKE
1. Line 15, introduced, after chapter
strike
the remainder of line 15 and all of line 16
insert
. In the administration of its single family loan programs, the HDA shall establish criteria that promote home ownership for persons and families of low and moderate income as defined in this chapter. The criteria shall include standards reasonably and prudently related to the credit risk of making the mortgage loan including: the ratio of the mortgage loan to the appraised value of the real estate security, the relationship of the borrowers including whether the borrowers are related by blood, marriage or adoption, the credit worthiness and credit capacity of the borrowers to repay the mortgage loan and such other standards as HDA shall deem necessary or appropriate.