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- Alaska Statutes.
- Title 18. Health, Safety, and Housing
- Chapter 56. Alaska Housing Finance Corporation
- Section 750. Loan Origination and Servicing.
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AS 18.56.750. Loan Origination and Servicing.
- (a) Before purchasing or participating in the purchase of a senior housing 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 office.
- (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 office's share of
the loan. When appropriate, the private financial institution or the regional Native housing authority may also charge
the borrower a reasonable origination fee not to exceed one percent.
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