Hawaii § 206E-117 - Purchase of existing loans program.
Full text of Hawaii Hawaii Revised Statutes § 206E-117 — Purchase of existing loans program., with citation guidance and answers to common questions.
§ 206E-117. Purchase of existing loans program.
(a) The authority may contract with a mortgage lender to purchase, in whole or in part, existing loans, whether or not eligible loans. The contract may contain provisions as determined by the authority to be necessary or appropriate to provide security for its revenue bonds, including but not limited to provisions requiring the: (1) Repurchase of the loans, in whole or in part, by mortgage lenders at the option of the authority; (2) Payments of premiums, fees, charges, or other amounts by mortgage lenders to provide a reserve or escrow fund for the purposes of protecting against loan defaults; and (3) Guarantee by, or for recourse against, mortgage lenders, with respect to defaults on these loans of the authority. (b) The authority shall require as a condition of each purchase of existing loans from a mortgage lender that the mortgage lender proceed to make and disburse eligible loans in an aggregate principal amount substantially equal to the amount of the proceeds from the purchase by the authority of loans therefrom. [L 1982, c 228, pt of §8] Previous Vol04_Ch0201-0257 Next
Source: official Hawaii text · Last verified 2026-08-27
Frequently Asked Questions About Hawaii § 206E-117
What does Hawaii Revised Statutes § 206E-117 cover?
Section 206E-117 ("Purchase of existing loans program.") is part of the Hawaii Revised Statutes, the codified statutory law of Hawaii. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Hawaii § 206E-117?
A common citation format is "Hawaii Revised Statutes § 206E-117" (Hawaii). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Hawaii law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Hawaii official source linked on this page or consult a licensed Hawaii attorney.
How does Hawaii § 206E-117 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Hawaii can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Hawaii.