TITLE 47: HOUSING AND COMMUNITY DEVELOPMENT CHAPTER II: ILLINOIS HOUSING DEVELOPMENT AUTHORITY PART 260 HOMEOWNER MORTGAGE REVENUE BOND PROGRAM The General Assembly's Illinois Administrative Code database includes only those rulemakings that have been permanently adopted. This menu will point out the Sections on which an emergency rule (valid for a maximum of 150 days, usually until replaced by a permanent rulemaking) exists. The emergency rulemaking is linked through the notation that follows the Section heading in the menu. View Entire Part SUBPART A: GENERAL RULES Section 260.101 Authority Section 260.102 Purposes and Objectives Section 260.103 Definitions Section 260.104 Borrowing by the Authority Section 260.105 Compliance with Federal Law Section 260.106 Standards Section 260.107 Forms for the Program Section 260.108 Fees and Charges of the Authority Section 260.109 Waiver (Repealed) Section 260.110 Amendment Section 260.111 Severability Section 260.112 Gender and Number Section 260.113 Titles and Captions Section 260.114 Calendar Days SUBPART B: LENDER APPLICATION PROCESS Section 260.201 Invitations to Participate in the Programs Section 260.202 Security for Allocation of Net Proceeds (Repealed) Section 260.203 Allocation of Net Proceeds for Purchase of Mortgage Loans (Repealed) Section 260.204 Notice of Acceptance Section 260.205 Commitments for Mortgage Loans SUBPART C: HOMEBUILDER APPLICATION PROCESS Section 260.301 HomeBuilder Invitations (Repealed) Section 260.302 Reservation of Funds for Construction of Qualified Dwellings (Repealed) Section 260.303 Notice of Reservation of Funds (Repealed) Section 260.304 Real Estate Purchase Contracts (Repealed) Section 260.305 Transfer of Reserved Funds (Repealed) SUBPART D: PURCHASE OF MORTGAGE LOANS Section 260.401 Mortgage Loans Section 260.402 Yield on Mortgage Loans Section 260.403 Terms and Conditions of the Purchase of Mortgage Loans Section 260.404 Prepayment Section 260.405 Targeted Area Residences Section 260.406 Supplemental Mortgage Coverage Section 260.407 Special Hazard Insurance (Repealed) SUBPART E: ADMINISTRATIVE RULES Section 260.501 Restrictions on Return Realized by Lenders Section 260.502 Servicing of Mortgage Loans Section 260.503 Purchase of Authority Bonds (Repealed) Section 260.504 Equal Opportunity Lending Section 260.505 Inspection of Books and Records Section 260.506 Termination

AUTHORITY: Authorized by Sections 7.19 and 7.23 of the Illinois Housing Development Act [20 ILCS 3805].

SOURCE: Adopted at 18 Ill. Reg. 17229, effective November 16, 1994; amended at 22 Ill. Reg. 3851, effective February 4, 1998; emergency amendment at 31 Ill. Reg. 5883, effective March 30, 2007, for a maximum of 150 days; amended at 31 Ill. Reg. 12852, effective August 22, 2007; emergency amendment at 33 Ill. Reg. 1512, effective January 7, 2009, for a maximum of 150 days; amended at 33 Ill. Reg. 7295, effective May 22, 2009; amended at 48 Ill. Reg. 14631, effective September 26, 2024.