BlackletterCalifornia law

CHAPTER 3.5. Qualified Mortgage Bonds And Mortgage Credit Certificates

Heading of Chapter 3.5 amended by Stats. 1985, Ch. 1399, Sec. 1.

§§ 50172–50199.2 · 11 sections

  1. ARTICLE 1. Definitions and General Provisions §§ 50172–50175 · 2 sections
    • § 50172 As used in this chapter, the following terms have the following meanings: (a) “Certificate credit rate” means the rate of the credit allowed by this chapter…
    • § 50175 This chapter is enacted in implementation of the Mortgage Subsidy Bond Tax Act of 1980 (Title XI, Public Law 96-499) and Section 612 of the Tax Reform Act of…
  2. ARTICLE 2. Mortgage Credit Certificates §§ 50197.1–50199.2 · 9 sections
    • § 50197.1 An issuer may establish a mortgage credit certificate program pursuant to this article.
    • § 50197.2 (a) An issuer shall notify the committee if the issuer elects to exchange all or part of the issuer’s authority to issue qualified mortgage bonds for authority…
    • § 50197.3 A mortgage credit certificate may be issued under a mortgage credit certificate program by a local agency pursuant to this chapter and the federal act, as…
    • § 50197.5 Any local agency may, upon the approval of the California Debt Limit Allocation Committee pursuant to subdivision (d) of Section 8869.85 of the Government…
    • § 50197.7 If an issuer elects to exchange all or part of a supplementary allocation of qualified mortgage bonds for authority to issue mortgage credit certificates, the…
    • § 50198 The requirement that public notice be given that mortgage credit certificates will be issued, prescribed by Section 25(e)(5) of Title 25 of the United States…
    • § 50198.5 An issuer shall develop and maintain a list of lenders that have entered into an agreement with the issuer who will make loans to qualified holders of mortgage…
    • § 50199 Notwithstanding any other provision of law, after a list of lenders has been completed by an issuer, after the qualified mortgage bond allocation has been…
    • § 50199.2 Any issuer that establishes a mortgage credit certificate program may charge a fee which is reasonably sufficient to cover the costs of administering that…