Waiver Provision

(1) The Undersecretary of the Department may waive, in writing, any provision of 760 CMR 24.00 not required by statute if he or she determines that such action is reasonably required, in the public interest, and will not derogate from the statutory purposes. (2) In the case of funding under M.G.L. c. 121F, if the Department determines that a Weak Market exists pursuant to 760 CMR 24.04(8), and, further, if the Undersecretary finds that 760 CMR 24.05(2) or any other provisions of 760 CMR 24.00, HSF V, HSF VI, and M.G.L. c. 121F are inconsistent with promoting homeownership in the Weak Market, pursuant to the HSF Guidelines, the Undersecretary may waive such requirements and take other action to promote homeownership in the Weak Market. The allowable actions taken by the Undersecretary to promote homeownership in the Weak Market include, but are not limited to, reducing the length of required affordability to not less than ten years and permitting the funded property to be purchased by a household whose income at the time of purchase does not exceed 135% of the Area Median Income, or both; provided however, that the purchaser shall own and occupy the property as his primary residence.