Grounds for approval of refinance
Compiled text through Sep 15, 2021
Register checked through Jul 29, 2026
No later Register activity identified in this check.
Dates and status
- Compiling agency
- Executive Department
- Text status
- Source receipt
- Compiled text through
- Sep 15, 2021
- Register checked through
- July 29, 2026/Vol. XLVIII, Issue 30 (2026-07-29)
- Activity status
- No later Register activity identified in this check.
- Source snapshot
- Jun 6, 2026
(a)In reviewing a request to refinance, the division may consider various factors including but not limited to the fact that the refinance will:
(1)reduce debt service in order to minimize increases in rent or maintenance;
(2)raise additional funds for current capital improvements;
(3)bolster reserve funds for future capital improvements;
(4)facilitate a redevelopment plan involving new sources of funding;
(5)permit continuation of the real property tax exemption;
(6)permit continuation of existing loans, grants, or subsidies.
(b)In order to facilitate an approved refinance, the division may consent to modify its supervision to avoid unnecessary duplication with other subsidy programs or supervising agencies, allow the lender greater participation in the supervision of the housing company's use of loan proceeds and reserve and escrow funds, and avoid undue regulatory burden upon the housing company.