Section 750.130  Illinois Housing Development Authority Mortgage Priority

Upon request of the Participant, the Treasurer shall certify to the Director of the Illinois Housing Development Authority that the Program Participant has satisfied all requirements under Section 750.110 of this Part to become eligible for priority consideration under the Authority's Single Family Mortgage Purchase Program.  The Treasurer does not participate in the review or approval of Illinois Housing Development Authority applications.

a)         Certified Program Participants shall have priority over persons who are not so certified for making applications for mortgages in the Illinois Housing Development Authority's Single Family Mortgage Purchase Program.

b)         To qualify for mortgage priority, Program Participants must meet all applicable requirements of the Illinois Housing Development Authority's Single Family Mortgage Purchase Program, as set forth in 47 Ill. Adm. Code 250, as amended and supplemented, or any other rules that the Illinois Housing Development Authority may promulgate in connection with the Single Family Mortgage Purchase Program and Section 143 of the Internal Revenue Code of 1986 and the regulations promulgated thereunder, both as they may be amended and supplemented.

c)         Program Participants must present the Treasurer's certification with their application for an Illinois Housing Development Authority mortgage.