(a) The corporation may contract with a mortgage lender for the advance commitment to purchase eligible loans.

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Terms Used In Hawaii Revised Statutes 516-151

  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Corporation: means the Hawaii housing finance and development corporation created by chapter 201H. See Hawaii Revised Statutes 516-1
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
(b) The contract may contain provisions as determined by the corporation to be necessary or appropriate to provide security for its revenue bonds.