reglab/housing_qa huggingface dataset:
NM Stat § 58-18-5.5 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18 - Mortgage Finance Authority|Section 58-18-5.5 - Additional powers of authority; authority designated as single state housing authority; application for and receipt of federal funds; administration of housing programs.

In addition to the powers granted the authority pursuant to Sections 58-18-5 and 58-18-5.3 NMSA 1978, the authority: A. is designated as the state housing authority for all purposes; B. shall make application for federal housing funds and programs; C. shall administer federal and state housing programs and federal tax credit provisions associated with those programs; D. shall receive and expend funds pursuant to applicable federal housing laws, federal housing regulations, the provisions of the Mortgage Finance Authority Act and regulations adopted pursuant to that act; E. shall administer the following housing programs that were previously transferred to it by executive order, the provisions of which are ratified: (1) the federal HOME program; (2) the federal low-income housing tax credit program; (3) the federal emergency shelter grant programs; (4) the state homeless program; (5) the federal and state weatherization programs and that part of the low-income home energy assistance program authorized for weatherization; and (6) the state safe water program; F. shall assist with technical consultation in connection with housing components of the community service block grant and community development block grant programs that are administered by the human services department and the department of finance and administration, respectively; and G. shall not receive direct appropriations of state funds from the legislature, and, if a program for which the authority is granted the power and has the duty to administer involves the appropriation or expenditure of state funds, the authority is granted specific power to enter into a joint powers agreement with the department of finance and administration pursuant to the Joint Powers Agreements Act [11-1-1 to 11-1-7 NMSA 1978]. History: Laws 1998, ch. 63, § 6. ANNOTATIONSCross references. — For the Municipal Housing Law, see 3-45-1 NMSA 1978 et seq. For the Urban Development Law, see 3-46-1 NMSA 1978 et seq. For the Community Development Law, see 3-60-1 NMSA 1978 et seq. For Regional Housing Law, see Chapter 11, Article 3A NMSA 1978. For Low Income Utility Assistance Act, see 27-6-11 NMSA 1978. For the Gasoline and Home Heating Relief Fund, see 6-4-25 NMSA 1978. Effective dates. — Laws 1998, ch. 63, § 8 makes the act effective on July 1, 1998. Statewide housing authority. — Section 58-18-5.5 NMSA 1978 designates the mortgage finance authority as the single state housing authority in New Mexico with statewide jurisdiction and prohibits out-of-state public housing authorities and their instrumentalities from acting as public housing authorities within New Mexico. 2012 Op. Att'y Gen. No. 12-02.
NM Stat § 58-18-5.6 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18 - Mortgage Finance Authority|Section 58-18-5.6 - Duties; behavioral health.

The authority shall: A. appoint a representative to both the behavioral health planning council and the interagency behavioral health purchasing collaborative; and B. ensure that any behavioral health services, including mental health and substance abuse services, and any housing provided for consumers of those services, that are provided, contracted for or approved by the authority are in compliance with requirements of Section 9-7-6.4 NMSA 1978. History: Laws 2004, ch. 46, § 13. ANNOTATIONSEffective dates. — Laws 2004, ch. 46 contains no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, is effective May 19, 2004, 90 days after adjournment of the legislature.
NM Stat § 58-18-7.1 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18 - Mortgage Finance Authority|Section 58-18-7.1 - Sale of project mortgage loans.

All mortgage lenders are authorized to sell project mortgage loans to and to accept loans from the authority in accordance with the provisions of the Mortgage Finance Authority Act and the rules and regulations of the authority. To the extent that any provisions of this section may be inconsistent with any provision of law of the state governing the affairs of mortgage lenders, which other provision of law does not by its terms expressly amend the Mortgage Finance Authority Act, the provisions of this section shall control. History: 1978 Comp., § 58-18-7.1, enacted by Laws 1982, ch. 86, § 6; 1995, ch. 9, § 13. ANNOTATIONSThe 1995 amendment, effective June 16, 1995, deleted "Multiple family dwellings" at the beginning of the section heading and inserted "which other provision of law does not by its terms expressly amend the Mortgage Finance Authority Act" in the second sentence.
NM Stat § 58-18-7.3 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18 - Mortgage Finance Authority|Section 58-18-7.3 - Rehabilitation loans and home improvement loans.

The authority may develop a tax-exempt bond, a taxable bond or an authority-funded program for the financing of home improvement or rehabilitation loans. Such a home improvement or rehabilitation loan program may be conducted in concert with any appropriation provided by the legislature for the purpose of developing and conducting a program of subsidizing the interest rates on home improvement or rehabilitation loans to persons of low or moderate income. History: 1978 Comp., § 58-18-7.3, enacted by Laws 1984, ch. 62, § 2; 1987, ch. 168, § 1; 1995, ch. 9, § 15. ANNOTATIONSThe 1995 amendment, effective June 16, 1995, deleted former Subsection A relating to the reservation of bond proceeds for the purchase of rehabilitation loans; substituted the language beginning "of home improvement" for "of the purchase of home improvement loans from mortgage lenders or for loans to mortgage lenders to fund home improvement loans" at the end of the first sentence; inserted "or rehabilitation" in two places and "or moderate" near the end; deleted "to the state investment council" following "by the legislature"; and made stylistic changes throughout the section.
NM Stat § 58-18-8 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18 - Mortgage Finance Authority|Section 58-18-8 - Rules and regulations of the authority.

A. The authority shall adopt and may from time to time modify or repeal, subject to prior approval by the Mortgage Finance Authority Act oversight committee, rules and regulations: (1) for determining income levels for the classification of persons of low or moderate income, which may vary between different areas in the state and in accordance with the size of family unit; and (2) for governing: (a) the making of loans to mortgage lenders; and (b) the purchase of mortgage loans, to implement the powers authorized and to achieve the purposes set forth in the Mortgage Finance Authority Act. B. The rules and regulations of the authority relating to the making of loans to mortgage lenders pursuant to Section 58-18-6 NMSA 1978 or the purchase of mortgage loans pursuant to Section 58-18-7 NMSA 1978 shall provide at least for the following: (1) procedures for the submission by mortgage lenders to the authority of: (a) requests for loans; and (b) offers to sell mortgage loans; (2) standards for allocating bond proceeds among mortgage lenders requesting loans from or offering to sell mortgage loans to the authority; (3) standards for determining the principal amount to be loaned to each mortgage lender and the interest rate thereon; (4) standards for determining the aggregate principal amount of mortgage loans to be purchased from each mortgage lender and the purchase price thereof; (5) qualifications or characteristics of: (a) residential housing; and (b) the purchasers of residential housing to be financed by new mortgage loans made in satisfaction of the requirements of Subsection F of Section 58-18-6 NMSA 1978 or Subsection B of Section 58-18-7 NMSA 1978, as the case may be; (6) restrictions as to the interest rates to be allowed on new mortgage loans and the return to be realized therefrom by mortgage lenders; (7) requirements as to commitments and disbursements by mortgage lenders with respect to new mortgage loans; and (8) standards for mobile homes eligible for use as security. C. The rules and regulations of the authority shall also provide for: (1) schedules of any fees and charges to be imposed by the authority; and (2) any other matters related to the duties and the exercise of the powers of the authority under the Mortgage Finance Authority Act. History: 1953 Comp., § 13-19-8, enacted by Laws 1975, ch. 303, § 8; 1979, ch. 399, § 4; 1995, ch. 9, § 16. ANNOTATIONSCross references. — For the Mortgage Finance Authority Act oversight committee, see 2-12-5 NMSA 1978. The 1995 amendment, effective June 16, 1995, inserted "Mortgage Finance Authority Act" in the introductory paragraph of Subsection A, inserted "or moderate" in Paragraph A(1), and made a stylistic change.
NM Stat § 58-18-8.1 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18 - Mortgage Finance Authority|Section 58-18-8.1 - Rules and regulations of the authority; multiple-family dwellings, transitional and congregate housing facilities.

Prior to financing a multiple-family dwelling project or transitional or congregate housing facility, the authority shall adopt, subject to prior approval by the Mortgage Finance Authority Act oversight committee, rules and regulations governing the purchase of project mortgage loans and the making of loans to finance project mortgage loans, which shall provide at least for the following: A. procedures for the submission by mortgage lenders to the authority of: (1) offers to sell project mortgage loans; or (2) requests for loans; B. standards for approving qualifications of sponsors and mortgage lenders; C. standards for determining minimum equity requirements for sponsors and acceptable debt-to-equity ratios for sponsors; D. methods for establishing uniform accounting systems for sponsors; E. standards for approving costs of such projects; and F. guidelines establishing reasonable geographic allocation procedures for project mortgage loans. History: 1978 Comp., § 58-18-8.1, enacted by Laws 1982, ch. 86, § 7; 1995, ch. 9, § 17. ANNOTATIONSCross references. — For the Mortgage Finance Authority Act oversight committee, see 2-12-5 NMSA 1978. The 1995 amendment, effective June 16, 1995, in the introductory paragraph, inserted "or transitional or congregate housing facility" near the beginning and substituted "to finance project mortgage loans" for "to mortgage lenders" near the end; and substituted "project mortgage loans" for "multiple family dwelling project loans" at the end of subsection F.
NM Stat § 58-18-8.2 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18 - Mortgage Finance Authority|Section 58-18-8.2 - Rules and regulations of the authority; secondary market facility.

Prior to establishing a secondary market facility or issuing any pass-through security, the authority shall adopt, subject to prior approval by the Mortgage Finance Authority Act oversight committee, rules and regulations governing the operations of the secondary market facility and the issuance of pass-through securities, which shall provide for the following, to the extent that the secondary market facility proposes to engage in such activities: A. procedures for submission by mortgage lenders to the authority of offers to sell: (1) mortgage loans; (2) pass-through securities; or (3) obligations secured by mortgage loans or pledges of mortgage loan revenues; B. standards for allocating available funds or guarantees among mortgage lenders through the secondary market facility; C. qualifications or conditions relating to the reinvestment by mortgage lenders of the funds made available to mortgage lenders by the secondary market facility; and D. characteristics of pass-through securities to be issued by the secondary market facility. History: 1978 Comp., § 58-18-8.2, enacted by Laws 1983, ch. 285, § 3.
NM Stat § 58-18-8.3 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18 - Mortgage Finance Authority|Section 58-18-8.3 - Rules and regulations of the authority; home improvement loan program.

Prior to implementing the home improvement loan program referred to in Subsection B of Section 58-18-7.3 NMSA 1978, the authority shall adopt, subject to prior approval by the Mortgage Finance Authority Act oversight committee, rules and regulations governing the purchase of home improvement loans or loans to mortgage lenders to fund home improvement loans under the program, which shall provide at least for the following: A. procedures for submission by mortgage lenders to the authority of offers to sell home improvement loans; B. standards for approving qualifications of mortgage lenders; C. standards for allocating bond proceeds or other authority funds among mortgage lenders offering to sell home improvement loans to the authority and among mortgage lenders receiving loans from the authority to fund home improvement loans; D. qualifications or characteristics of: (1) residential housing upon which a home improvement loan may be made; (2) the types of home improvements that may be made with the proceeds of home improvement loans, except that the authority shall not permit the proceeds to be used for landscaping, lawn sprinkling systems, swimming pools, tennis courts, saunas or other recreational facilities; and (3) the persons of low or moderate income who may apply for home improvement loans; E. restrictions as to the interest rates to be allowed on home improvement loans and the fees and other profit to be realized by mortgage lenders; and F. procedures for determining eligibility for any subsidies to be provided to persons of low or moderate income. History: 1978 Comp., § 58-18-8.3, enacted by Laws 1984, ch. 62, § 3; 1987, ch. 168, § 2; 1995, ch. 9, § 18. ANNOTATIONSCross references. — For the Mortgage Finance Authority Act oversight committee, see 2-12-5 NMSA 1978. Compiler's notes. — The reference to Subsection B of 58-18-7.3 NMSA 1978 in the introductory language should now be a reference to 58-18-7.3 NMSA 1978 since the 1995 amendment to that section deleted Subsection A. The 1995 amendment, effective June 16, 1995, substituted "may be made" for "can be made" in Paragraphs D(1) and D(2) and inserted "or moderate" in Paragraph D(3) and Subsection F.
NM Stat § 58-18-9 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18 - Mortgage Finance Authority|Section 58-18-9 - Required determinations of the authority.

The authority shall not make loans to mortgage lenders pursuant to Section 58-18-6 NMSA 1978 or purchase mortgage loans pursuant to Section 58-18-7 NMSA 1978 until the authority has determined: A. that the supply of funds available in the private banking system in the state for residential mortgages is inadequate to meet the demand of persons of low or moderate income for residential mortgage financing; and B. that the purchase of mortgages or making of loans by the authority will alleviate the inadequate supply of residential mortgage money in the state's banking system. History: 1953 Comp., § 13-19-9, enacted by Laws 1975, ch. 303, § 9; 1995, ch. 9, § 19. ANNOTATIONSThe 1995 amendment, effective June 16, 1995, in the introductory paragraph, substituted "shall not make" for "may not make" and substituted "Section 58-18-6 NMSA 1978" and "Section 58-18-7 NMSA 1978" for "Section 6 of the Mortgage Finance Authority Act" and "Section 7 of that act", respectively, inserted "or moderate" near the end of Subsection A, and made stylistic changes throughout the section.
NM Stat § 58-18-9.1 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18 - Mortgage Finance Authority|Section 58-18-9.1 - Repealed.

ANNOTATIONSRepeals. — Laws 1995, ch. 9, § 37 repeals 58-18-9.1 NMSA 1978, as amended by Laws 1983, ch. 310, § 2, relating to the authority's financing or purchase of multiple-family dwelling project mortgage loans insured by the SHA, effective June 16, 1995. For provisions of former section, see the 1994 NMSA 1978 on NMOneSource.com.
NM Stat § 58-18-10 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18 - Mortgage Finance Authority|Section 58-18-10 - Planning, zoning and building laws.

A. All multiple-family dwelling projects and transitional and congregate housing facilities shall be subject to any applicable master plan, official map, zoning regulation, building code, housing ordinance and other laws and regulations governing land use or planning or construction of the municipality in which the project is or is to be located. B. The authority shall provide a description of any multiple-family dwelling project or transitional or congregate housing facility for which it proposes to finance a project mortgage loan to the local governing body of the municipality in which the multiple-family dwelling project or transitional or congregate housing facility is or is to be located. The description shall include the proposed number and type of dwelling units and the location of the project. Unless the local governing body, by majority vote, disapproves the multiple-family dwelling project or transitional or congregate housing facility within thirty days after receipt of the description, the authority may finance a project mortgage loan on the project. History: 1953 Comp., § 13-19-10, enacted by Laws 1975, ch. 303, § 10; 1982, ch. 86, § 9; 1995, ch. 9, § 20. ANNOTATIONSThe 1995 amendment, effective June 16, 1995, substituted "All multiple-family dwelling projects and transitional and congregate housing facilities" for "all projects" at the beginning of Subsection A, inserted "or transitional or congregate housing facility" in three places in Subsection B, and made minor stylistic changes throughout the section.
NM Stat § 58-18-11.1 to 58-18-11.5 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18 - Mortgage Finance Authority|Section 58-18-11.1 to 58-18-11.5 - Repealed.

ANNOTATIONSRepeals. — Laws 1988, ch. 46, § 13, effective March 4, 1988, repeals former 58-18-11.1 NMSA 1978, as enacted by Laws 1981, ch. 174, § 1, regarding tax exempt mortgage subsidy bond issuance. Laws 1995, ch. 9, § 37 repeals 58-18-11.2 NMSA 1978, as amended by Laws 1983, ch. 310, § 3, relating to bonds or notes issued in connection with financing of multiple-family dwelling projects, effective June 16, 1995. For provisions of former section, see the 1994 NMSA 1978 on NMOneSource.com. Laws 1983, ch. 310, § 5, repeals 58-18-11.3 and 58-18-11.4 NMSA 1978, relating to termination of the authorization to issue bonds to finance multiple-family dwelling projects and to the multiple-family sunset plan, respectively, effective April 7, 1983. Laws 1990, ch. 118, § 2 repeals 58-18-11.5 NMSA 1978, as amended by Laws 1987, ch. 54, § 1, relating to expiration of authorization to issue bond to finance multiple-family dwellings, effective May 16, 1990. For provisions of former section, see the 1989 NMSA 1978 on NMOneSource.com.
NM Stat § 58-18-12 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18 - Mortgage Finance Authority|Section 58-18-12 - Reserve funds.

A. The authority may create and establish one or more reserve funds. B. The authority may create and establish other reserve funds as it deems advisable and necessary. History: 1953 Comp., § 13-19-12, enacted by Laws 1975, ch. 303, § 12; 1995, ch. 9, § 22. ANNOTATIONSThe 1995 amendment, effective June 16, 1995, deleted former provisions of Subsection A relating to debt service reserve funds and made stylistic changes in Subsection B.
NM Stat § 58-18-13 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18 - Mortgage Finance Authority|Section 58-18-13 - Notice or publication not required.

No notice, consent or approval by any governmental body or public officer shall be required as a prerequisite to the issuance, sale or delivery of any bonds, notes or other obligations of the authority pursuant to the provisions of the Mortgage Finance Authority Act, except as specifically provided in that act. History: 1953 Comp., § 13-19-13, enacted by Laws 1975, ch. 303, § 13; 1995, ch. 9, § 23. ANNOTATIONSThe 1995 amendment, effective June 16, 1995, deleted "The internal revenue service shall be notified of the issuance of all bonds, notes and other obligations" at the beginning, substituted "notes or other obligations of the authority" for "notes of the authority or to the making of any loans to mortgage lenders or to the purchase of mortgage loans", and made related stylistic changes.
NM Stat § 58-18-14.1 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18 - Mortgage Finance Authority|Section 58-18-14.1 - Project mortgage loans; enforcement of agreement.

A. Compliance by any mortgage lender with the terms of its agreement with or undertaking to the authority with respect to the making of any project mortgage loans to sponsors may be enforced by decree of any court of competent jurisdiction. The authority shall require as a condition of purchasing project mortgage loans from or making a loan to any national banking or federal savings and loan association the consent of the association to the jurisdiction of courts of the state over any such proceeding. The authority shall also require as a condition of the authority's purchasing project mortgage loans from or making a loan to any mortgage lender agreement by the mortgage lender to the payment of penalties to the authority for violation by the mortgage lender of its undertakings to the authority. B. Each mortgage lender shall be liable to the authority for any damages suffered by the authority by reason of the untruth of any representation or the breach of any warranty, and, in the event that any representation proves to be untrue when made or in the event of any breach of warranty, the mortgage lender shall, at the option of the authority: (1) repurchase the project mortgage loan for the original purchase price adjusted for amounts subsequently paid thereon, as the authority may determine; or (2) repay the then unpaid principal balance of the loan, together with interest accrued thereon and the penalties owed pursuant to Subsection A of this section. History: 1978 Comp., § 58-18-14.1, enacted by Laws 1982, ch. 86, § 11; 1995, ch. 9, § 25. ANNOTATIONSThe 1995 amendment, effective June 16, 1995, substituted "Project mortgage loans" for "Multiple family dwellings" in the section heading, deleted "multiple-family dwelling" preceding "project mortgage loans" in Subsection A, and made stylistic changes throughout the section.
NM Stat § 58-18-15 (2021)
2021 New Mexico Statutes|Chapter 58 - Financial Institutions and Regulations|Article 18 - Mortgage Finance Authority|Section 58-18-15 - State and municipalities not liable on bonds and notes.

The bonds, notes and other obligations of the authority shall not be a debt of the state or of any municipality, and neither the state nor any municipality shall be liable thereon. History: 1953 Comp., § 13-19-15, enacted by Laws 1975, ch. 303, § 15.