Or. Admin. R. 274-045-0160 - Partial Release of Security
(1)
A partial release of security may be granted when the borrower submits a
complete application for one and the Director determines that granting the
requested release would not jeopardize the Department of Veterans' Affairs'
security position.
(2) The
remaining property must qualify as security for the loan balance under the
provisions of ORS 407.225(3) and
OAR
274-045-0040
to
274-045-0060.
(3) Notwithstanding compliance with section
(2) of this rule, the Director may require that the loan balance be reduced as
consideration for granting the requested release.
Notes
Publications: The publications referenced in this rule is available from the agency.
Stat. Auth.: ORS 406 & ORS 407
Stats. Implemented: ORS 407
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