Or. Admin. Code § 813-060-0025 - 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 § 813-060-0025

1HD 6-1982(Temp), f. & ef. 9-20-82; 1HD 10-1982, f. & ef. 12-14-82; 1HD 13-1984, f. & ef. 9-4-84; HSG 4-1987(Temp), f. & ef. 2-5-87; HSG 10-1987, f. & ef. 3-10-87; HSG 3-1989(Temp), f. & cert. ef. 6-8-89; HSG 15-1989, 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; HSG 4-1993(Temp), f. & cert. ef. 10-1-93; HSG 6-1996, f. & cert. ef. 6-14-96; OHCS 5-2007, f. & cert. ef. 1-11-07

Stat. Auth.: ORS 456.555

Stats. Implemented: ORS 456.555 & 456.625