HAR §15-165-1. Purpose

These rules are adopted pursuant to Chapter 91, Hawaii Revised Statutes ( 0 HRS"), to implement sections 201G-241 through 201G-244, HRS, and sections 201G-161, 201G-164 through 201G-167, 201G-170, HRS, pertaining to the issuance and sale of taxable mortgage securities for the general purpose of raising funds: (l) To provide mortgage financing at affordable or prevailing market 'interest rates to persons and families, who meet the criteria of being eligible borrowers, to purchase a home; (2) To make commitments to provide mortgage financing for the purchase of homes in projects, developments and elsewhere as a means of encouraging the development of affordable housing; and (3) To provide interim or permanent loans to financeffi~9AR~e housing projects. [ Eff QC Z O l~~~ ] (Auth: HRS §201G-4, 201G-243) (Imp: HRS §§201G-241 - 201G-244, 201G-l61, 201G-164 - 201G-167, 201G-170) 165-2 2237