TITLE 47: HOUSING AND COMMUNITY DEVELOPMENT
CHAPTER II: ILLINOIS HOUSING DEVELOPMENT AUTHORITY
PART 260 HOMEOWNER MORTGAGE REVENUE BOND PROGRAM
SECTION 260.501 RESTRICTIONS ON RETURN REALIZED BY LENDERS
Section 260.501 Restrictions on Return Realized by Lenders
The Authority shall establish the maximum income that may be realized by any Lender and by any agent of any Lender from Mortgage Loans, including any fees, premiums, bonuses and points charged by the Lender or the Lender's agent in connection with the making of Mortgage Loans. The maximum income shall be set at such amounts as the Authority finds reasonably necessary to induce participation in the Programs by Lenders in order to accomplish the purposes of the Act, or to ensure compliance with arbitrage and income limitations of section 143 of the Code.
(Source: Amended at 33 Ill. Reg. 7295, effective May 22, 2009)