Limitations.

CFR · 2024-01-01 · US · Title 7

(a) (b) (1) The purchase of land in excess of the immediate and identified needs in the locality. (2) The purchase of land from a member of an applicant-organization, or from another organization in which any member of the applicant-organization has an interest, without prior consent of the national office. (3) Refinancing of debts, except in accordance with paragraph (e) of this section. (4) Payment of any fee, charge, or commission to any broker, negotiator, or other person for the referral of a prospective applicant or solicitation of a loan. (5) Payment of any fee, salary, commission, profit, or compensation to an applicant, or to any officer, director, trustee, stockholder, member or agent of an applicant, except as provided in § 1822.265(b). No contract or agreement for services to be paid for with loan funds should be executed by the applicant without prior approval by the State director. (c) (1) Individuals with low and moderate incomes eligible for HUD mortgages. (2) Individuals with low and moderate incomes eligible for VA guaranteed loans. (3) Individuals with low or moderate incomes eligible for a loan from any private lender which is authorized by law to provide financial assistance for housing. (4) Nonprofit organizations funded by Federal, State, or local governments carrying out programs for low- and moderate-income families to obtain housing. (5) State or local public agencies such as a housing authority or a housing finance development agency carrying out pr

official document · source cfr-2024 · id 7:§ 1822.266