47 Ill. Adm. Code 260.205
Commitments for Mortgage Loans
Section 260
Section 260.205 Commitments
for Mortgage Loans
Upon receipt of the Notice of
Acceptance, the Lender shall issue commitments to Eligible Borrowers to make
Mortgage Loans. The Lender may continue to issue firm commitments for the
period set forth in the Notice of Acceptance. Any Mortgage Loans to be purchased
by the Authority or its designee shall be purchased by the Authority or its
designee by the date indicated in the Notice of Acceptance.