HAR §15-312-11. Definitions

As used in this subchapter and the procedural handbook: "Commitment letter" means the corporation's notice to a qualified sponsor of the acceptance of the eligible project loan application subject to the acceptance and conditions of the eligible project loan servicing agreement, if applicable. "Eligible project loan application" means an application from a qualified sponsor, in such form as prescribed by the corporation, requesting an eligible project loan. "Eligible project loan servicer" means a mortgage lender or its designee as approved by the corporation which has executed an eligible project loan servicing agreement. "Eligible project loan servicing agreement" means an agreement among a qualified sponsor, an eligible project loan servicer, and the corporation in a form as prescribed by the corporation to fund and service or service an eligible project loan. "Eligible project loan servicing agreement application" means an application from an eligible project loan servicer, in such form as prescribed by the corporation, requesting a contract with the corporation and qualified sponsor to fund and service or service an eligible project loan to a qualified sponsor. [Eff 4/23/2010; comp JAN 1 5 ?O?? ] (Auth: HRS §201H-104) (Imp: HRS §§201H-102, 201H-104, 201H- 105, 201H-106) 312-9 §15-312-11 SUBCHAPTER 2 ELIGIBLE PROJECT LOAN FUNDING PROGRAM