Or. Admin. Code § 813-030-0025 - Loan Security

Notwithstanding any other provision contained in the program rules, the Department shall not disburse funds for a loan until:

(1) The loan is secured by a fully executed trust deed note and first lien trust deed or other evidence of security; and

(2) The Eligible Borrower has satisfied all conditions contained in a Commitment.

Notes

Or. Admin. Code § 813-030-0025

1HD 1-1978(Temp), f. & ef. 7-12-78; 1HD 1-1979, f. & ef. 1-16-79; 1HD 4-1979, f. & ef. 9-11-79; 1HD 11-1984, f. & ef. 9-4-84; HSG 3-1987(Temp), f. & ef. 2-5-87; HSG 7-1987, f. & ef. 3-10-87; HSG 3-1989(Temp), f. & cert. ef. 6-8-89; HSG 11-1989, f. & cert. ef. 11-3-89; HSG 2-1991(Temp), f. & cert. ef. 8-7-91; HSG 8-1991, f. & cert. ef. 12-23-91; OHCS 2-2007, f. & cert. ef. 1-11-07

Stat. Auth.: ORS 90.800 - 90.840, 91.886, 456.515 - 456.723 & 458.210 - 458.650

Stats. Implemented: ORS 456.515 - 456.720