SECTION 330:15-7-10. Disqualification and/or termination of participating lenders under Program

Latest version.

  The Program Documents shall specify the specific grounds for disqualification and/or termination of a Participating Lender in the Program in question. By way of illustration, and not as a limitation, such grounds may include one or more of the following:
(1)   Insolvency of a Participating Lender.
(2)   Breach of any Program agreement by a Participating Lender.
(3)   Breach of OHFA Rules by the Participating Lender.
(4)   Unreasonably high default rate in the portfolio of mortgages being originated and/or serviced by a Participating Lender.

[Source: Amended at 37 Ok Reg 1709, eff 1-1-21]

                    
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