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2012 SESSION

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HB 557 Virginia Housing Development Authority; powers.

Introduced by: Daniel W. Marshall, III | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Virginia Housing Development Authority; powers.  Authorizes the Virginia Housing Development Authority (VHDA) to provide the requisite indemnifications for the Federal National Mortgage Association (Fannie Mae) as well as for any other transactions requiring indemnification. The bill provides that indemnification (i) shall be provided solely from funds of VHDA and (ii) shall not be a debt or obligation of the Commonwealth and the Commonwealth shall not be liable for the indemnification.


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