New Hampshire Revised Statutes 204-C:21 – Regulatory Agreements for Mortgage Loans
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Terms Used In New Hampshire Revised Statutes 204-C:21
- Authority: shall mean the New Hampshire housing finance authority. See New Hampshire Revised Statutes 204-C:1
- Housing: shall mean one or more new or existing dwelling units in the state financed pursuant to this chapter, including homes for persons with disabilities, mobile homes, prefabricated homes, any buildings, land, improvements, equipment, facilities or other real or personal properties which are deemed by the authority to be necessary, convenient, ancillary or desirable in connection with such dwelling units, and including, but not limited to, streets, sewers, utilities, parks, site preparation, off-site facilities, landscaping and other nonhousing facilities such as administrative, community, transportation, health, recreational, educational, commercial, retail, welfare and public facilities. See New Hampshire Revised Statutes 204-C:1
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Mortgage: shall mean a mortgage deed, deed of trust, or other instrument which shall constitute or create a security interest in tangible personal property constituting housing, or a lien on real property or on a leasehold under a lease having a remaining term, at any time such mortgage is acquired, which does not expire for at least that number of years beyond the maturity date of the obligation secured by such mortgage as is established by the authority as necessary to protect its interest as mortgagee. See New Hampshire Revised Statutes 204-C:1
- Mortgagor: The person who pledges property to a creditor as collateral for a loan and who receives the money.
- Multi-family housing: shall mean housing consisting of 5 or more units. See New Hampshire Revised Statutes 204-C:1
With respect to mortgage loans made by the authority under N.H. Rev. Stat. § 204-C:15, each mortgage to an eligible mortgagor of multi-family housing shall be subject to a regulatory agreement between the authority and the mortgagor which subjects the multi-family housing, the mortgagor and principals of the mortgagor to limitations established by the authority as to rentals and charges, builder’s and mortgagor’s profits and fees, the disposition of the said housing subject to the mortgage and maximum distributions and other matters which in the judgment of the authority are necessary or desirable to carry out the purposes of this chapter.