The agency shall establish and maintain separate accounts in the insurance fund for a single-family mortgage guaranty insurance program and a multifamily residential mortgage guaranty insurance program. Each program shall be actuarially sound and shall be capitalized through separate insurance funds.

(Added by Stats. 1993, Ch. 115, Sec. 4. Effective July 15, 1993.)

Terms Used In California Health and Safety Code 51647

  • insurance fund: means the California Housing Loan Insurance Fund, which is hereby created. See California Health and Safety Code 51603
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Mortgage guaranty insurance: means either of the following:

    California Health and Safety Code 51603

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