Tennessee Statutes
§ 13-22-102 — Qualification of housing for mortgage insurance
Tennessee·Title 13
(a)The agency may approve a housing accommodation for mortgage insurance, with such terms and conditions as the agency may prescribe; provided, that, as of the date of issuance of the insurance, the housing accommodation securing the mortgage:
(1)Is occupied or used, or is intended to be occupied or used, by the mortgagor as the mortgagor's residence;
(2)Contains, or upon completion of any rehabilitation will contain, no substantial violation of any applicable building or housing code, fire ordinance, or health regulation, and is not, or will not be, considered substandard or in a deteriorating or dilapidated condition; and (3) Has a remaining useful life, or will have upon completion of any rehabilitation, of no less than one hundred twenty percent (120%) of the terms of the mortgage l
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Legislative History
Acts 1973, ch. 313, § 2; 1975, ch. 339, § 2; 1977, ch. 360, § 2; T.C.A., § 13-2202; Acts 1988, ch. 901, § 4.
Nearby Sections
15
§ 13-10-101
Chapter definitions§ 13-10-102
Functions of commissioner§ 13-10-104
Authority of commissioner to inspect property and records and conduct investigations and hearings§ 13-10-107
State financial assistance - Contingencies§ 13-10-109
Financial assistance - Approved sources§ 13-10-201
Responsibility for implementation§ 13-10-202
Financial and legal independence§ 13-10-203
Enforcement authority§ 13-10-204
Confidentiality of information§ 13-10-205
Audits and reporting§ 13-10-206
Authority to adopt policies and regulations§ 13-11-101
Short title§ 13-11-102
Purpose§ 13-11-103
Chapter definitions