Maine § 30-A §4904 Consideration for mortgage loans purchased

Maine Statutes

§ 30-A §4904 — Consideration for mortgage loans purchased

Maine § 30-A §4904

Title 30-AMUNICIPALITIES AND COUNTIES

Part 2MUNICIPALITIES

Ch. 201HOUSING AUTHORITY

This text of Maine § 30-A §4904 (Consideration for mortgage loans purchased) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 30-A, § 30-A §4904 (2026).

Text

An authority shall pay for each mortgage loan or obligation purchased an amount not in excess of the outstanding principal balance; discount from the principal balance may be employed to effect a fair rate of return, as determined by the rate of return on comparable investment under market conditions existing at the time of purchase. In addition to this payment of outstanding principal balance, the authority shall pay the accrued interest due on the date the mortgage loan or obligation is delivered to the authority against payment therefor.

Free access — add to your briefcase to read the full text and ask questions with AI

An authority shall pay for each mortgage loan or obligation purchased an amount not in excess of the outstanding principal balance; discount from the principal balance may be employed to effect a fair rate of return, as determined by the rate of return on comparable investment under market conditions existing at the time of purchase. In addition to this payment of outstanding principal balance, the authority shall pay the accrued interest due on the date the mortgage loan or obligation is delivered to the authority against payment therefor.