Or. Admin. Code § 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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