Chapter 134. Connecticut Housing Finance Authority Act
Section
8-241Short title: Connecticut Housing Finance Authority Act.8-242Declaration of policy.8-242aEstablishment of subsidiaries by authority.8-243Definitions.8-244Connecticut Housing Finance Authority deemed a public instrumentality and political subdivision. Board membership. Subsidiaries.8-244aCommissioner of Economic Development to be member of authority.8-244bEstablishment of State Housing Authority.8-244cState Housing Authority to be successor to Connecticut Housing Authority.8-244dBonds, notes or other obligations.8-244eDefinitions. Additional powers and duties of Commissioner of Housing.8-245State personnel may be board members of authority.8-246Executive director. Appointment and duties.8-247Bonds or equivalent insurance product of board members and executive director of authority.8-248Perpetual succession of authority.8-249Quorum. Board action. Written procedures.8-250Purpose and powers of authority.8-251Purchase, servicing and sale of mortgages or interests therein. Urban area mortgages. Loans for mobile manufactured homes.8-252Issuance of bonds by authority.8-252aIssuance of bonds secured by payments and other revenues to be received by the state with respect to loans made by the state under bond-financed housing programs.8-253Mortgage loans and insurance of mortgage payments.8-253aAdditional loan conditions.8-254Applications for mortgage insurance.8-254aTenant selection plans of mortgagors.8-255Mortgage insurance premiums.8-256Default by mortgagor and subsequent action.8-257Mortgages insured by authority to be legal investments. Certificate of title required.8-258Housing Mortgage Capital Reserve Fund, additional capital reserve funds, Housing Mortgage General Fund and Housing Mortgage Insurance Fund.8-259State bonds.8-260Reports to Governor and General Assembly. Audit.8-261Pledge by state as to limitation or alteration of rights vested in authority.8-262Interpretation of powers.8-262aPenalty for false statement.8-263Provisions controlling over inconsistent law.8-264 and 8-265Purchase of or loans on mortgages insured by state agencies. Bond issue.8-265aLand of authority subject to local regulation.8-265bTax-exempt status of authority. Payment in lieu of taxes.8-265cDiscrimination re housing financed by authority barred.8-265dMortgage assistance for households with incomes below eighty per cent of the area median income.8-265eAnnual study of current market rent levels.8-265fProgram for use of interest earned on real estate broker escrow or trust accounts for mortgage assistance.8-265gMortgage assistance for low or moderate income families or persons.8-265hHousing advisory panel.8-265iReverse annuity mortgage program.8-265j to 8-265n8-265j to 8-265n8-265oDefinitions.8-265pResidential mortgage refinancing guarantee program.8-265qMortgagee participation.8-265rEligibility of loans.8-265sAmount of guarantee. Record of payments to honor guarantees. Notification to State Treasurer.8-265tPoints. Annual premium.8-265uTermination of loan guarantee.8-265vWritten procedures.8-265wBond issue authorized.8-265x to 8-265aa8-265x to 8-265aa8-265bbContract for state assistance to authority.8-265ccDefinitions.8-265ddEmergency mortgage assistance payment program. Emergency lien assistance payments. Foreclosure of eligible mortgage.8-265eeNotice to homeowner of foreclosure. Meeting or conference with mortgagee or consumer credit counseling agency.8-265ffEligibility for emergency mortgage or lien assistance payments. Application for loan. Disclosure of assets by homeowner. Determination of eligibility by the authority.8-265ggMonthly payments by authority and homeowner. Periodic review of financial circumstances. Modification to amount of payment. Emergency lien assistance payments by authority. Foreclosure of lien.8-265hhRepayment agreement.8-265iiAdoption of procedures.8-265jjFiling of notice of agreement to participate in program with the authority.8-265kkEstablishment of component program. Notification to participating homeowners of unavailability of funds.8-265llPilot program of revolving loans to developers for rehabilitation of existing housing.8-265mmPilot program of home purchasing assistance for police officers.8-265nnPilot program for rehabilitation or refinancing of buildings with five to twenty-five dwelling units.8-265ooResidential mortgage loan refinancing guarantee program.8-265ppMortgage assistance program for certain teachers.8-265qqAssessment increase deferred for rehabilitated properties.8-265rrMortgage refinancing program for homeowners with adjustable rate mortgages.8-265ssHomeowner's Equity Recovery Opportunity loan program.8-265ttDefinitions.8-265uuSupplemental collapsing foundation loan program. Claims. Financial institutions. Forms. Standards. Notices.8-265vvLoans.8-265wwClaims by eligible financial institutions. Assignment of guaranteed loans to state. Recordkeeping. Termination of loan guarantees. Maximum amount of claims.8-265xxMemorandum of understanding.8-265yyMortgage assistance for workforce housing projects.