PocketLaw | Connecticut General Statutes | Connecticut Housing Finance

Connecticut Housing Finance Authority Act

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Short title: Connecticut Housing Finance Authority Act.

Declaration of policy.

Establishment of subsidiaries by authority.

Definitions.

Connecticut Housing Finance Authority deemed a public instrumentality and political subdivision. Board membership. Subsidiaries.

Commissioner of Economic Development to be member of authority.

Establishment of State Housing Authority.

State Housing Authority to be successor to Connecticut Housing Authority.

Bonds, notes or other obligations.

Definitions. Additional powers and duties of Commissioner of Housing.

State personnel may be board members of authority.

Executive director. Appointment and duties.

Bonds of board members and executive director of authority.

Perpetual succession of authority.

Quorum. Board action. Written procedures.

Purpose and powers of authority.

Purchase, servicing and sale of mortgages or interests therein. Urban area mortgages. Loans for mobile manufactured homes.

Issuance of bonds by authority.

Issuance 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.

Mortgage loans and insurance of mortgage payments.

Additional loan conditions.

Applications for mortgage insurance.

Tenant selection plans of mortgagors.

Mortgage insurance premiums.

Default by mortgagor and subsequent action.

Mortgages insured by authority to be legal investments. Certificate of title required.

Housing Mortgage Capital Reserve Fund, additional capital reserve funds, Housing Mortgage General Fund and Housing Mortgage Insurance Fund.

State bonds.

Reports to Governor and General Assembly. Audit.

Pledge by state as to limitation or alteration of rights vested in authority.

Interpretation of powers.

Penalty for false statement.

Provisions controlling over inconsistent law.

Sections
8-264 and 8-265

Purchase of or loans on mortgages insured by state agencies. Bond issue.

Land of authority subject to local regulation.

Tax-exempt status of authority. Payment in lieu of taxes.

Section
8-265bb

Contract for state assistance to authority.

Discrimination re housing financed by authority barred.

Section
8-265cc

Definitions.

Mortgage assistance for households with incomes below eighty per cent of the area median income.

Section
8-265dd

Emergency mortgage assistance payment program. Foreclosure of eligible mortgage.

Annual study of current market rent levels.

Section
8-265ee

Notice to mortgagee of foreclosure. Meeting or conference with mortgagee or consumer credit counseling agency.

Program for use of interest earned on real estate broker escrow or trust accounts for mortgage assistance.

Section
8-265ff

Application for loan. Disclosure of assets by mortgagor. Determination of eligibility by the authority.

Mortgage assistance for low or moderate income families or persons.

Section
8-265gg

Monthly payments. Calculation of amount. Procedures for review of mortgagor's financial circumstances. Modification to amount of payment.

Housing advisory panel.

Section
8-265hh

Repayment agreement.

Reverse annuity mortgage program.

Section
8-265ii

Written procedures.

Sections
8-265j to 8-265n

Reserved for future use.

Section
8-265jj

Filing of notice of agreement to participate in program with the authority.

Section
8-265kk

Notification by authority to participating mortgagees of unavailability of funds.

Section
8-265ll

Pilot program of revolving loans to developers for rehabilitation of existing housing.

Section
8-265mm

Pilot program of home purchasing assistance for police officers.

Section
8-265nn

Pilot program for rehabilitation or refinancing of buildings with five to twenty-five dwelling units.

Definitions.

Section
8-265oo

Residential mortgage loan refinancing guarantee program.

Residential mortgage refinancing guarantee program.

Section
8-265pp

Mortgage assistance program for certain teachers.

Mortgagee participation.

Section
8-265qq

Assessment increase deferred for rehabilitated properties.

Eligibility of loans.

Section
8-265rr

Mortgage refinancing program for homeowners with adjustable rate mortgages.

Amount of guarantee. Record of payments to honor guarantees. Notification to State Treasurer.

Section
8-265ss

Homeowner's Equity Recovery Opportunity loan program.

Points. Annual premium.

Section
8-265tt

Definitions.

Termination of loan guarantee.

Section
8-265uu

Supplemental collapsing foundation loan program. Claims. Financial institutions. Forms. Standards. Notices.

Written procedures.

Section
8-265vv

Loans.

Bond issue authorized.

Section
8-265ww

Claims by eligible financial institutions. Assignment of guaranteed loans to state. Recordkeeping. Termination of loan guarantees. Maximum amount of claims.

Sections
8-265x to 8-265aa

Reserved for future use.

Section
8-265xx

Memorandum of understanding.