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- Alaska Statutes.
- Title 18. Health, Safety, and Housing
- Chapter 56. Alaska Housing Finance Corporation
- Section 510. Loan Origination and Servicing.
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AS 18.56.510. Loan Origination and Servicing.
- (a) Before purchasing or participating in the purchase of a small community housing mortgage loan, the corporation shall
enter into a loan servicing agreement with the private financial institution from which the loan is to be purchased.
- (b) The corporation may execute service agreements with private lending institutions or with regional Native housing
authorities established under AS 18.55.996
to service loans originated by the corporation or loans originated under AS 18.55.997
- (c) Under the servicing agreement, the private financial institution or the regional Native housing authority shall
administer the loan and may charge the corporation a negotiated origination or servicing fee on the corporation's share
of the loan. When appropriate, the private financial institution or the regional Native housing authority may also
charge the borrower a reasonable originator fee not to exceed one percent.
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