24 NCAC 01D .0203         FORM OF MORTGAGES TO BE PURCHASED BY THE AGENCY

The mortgage to be purchased by the agency under the forward commitment segment of the program shall be executed on a form approved by the agency. It shall be a first lien on the property, be consistent with North Carolina law, and conform with the standards prescribed by the agency in its mortgage purchase agreements and other forms.

History Note:        Authority G.S. 122A‑5;

Eff. May 28, 1976;

Transferred from T15: 14 Eff. December 1, 1981;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. September 23, 2017.