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(a) The Corporation hereby designates the judicial districts of the state established and described pursuant to AS 22.10.010 for the purpose of allocating money for the purchase of mortgage loans. The Corporation will allocate amounts on the mortgage loans. The Corporation will allocate amounts on the basis of recent and future anticipated lending activities of the sellers as well as upon the potential need for mortgage loans in each judicial district of the state as it determines is required based on the most current research and information reasonably available to it. From time to time the Corporation will reallocate amounts among the judicial districts as it determines appropriate to reflect the changes in lending activity or need in the judicial districts.
(b) For the purposes of regional allocation under AS 18.56.570 , the state is divided into four regions corresponding to the four judicial districts of the state. The Corporation will allocate funds in the housing assistance loan fund among the four regions on the basis of the current and anticipated need for housing loans as indicated by available research and information. The Corporation will, in its discretion, reallocate funds among the regions if the executive director determines that an extraordinary need for reallocation exists.
(c) For the purposes of residential loans under AS 18.55.997 , the state is divided into regions corresponding to the jurisdictional areas of the regional housing authorities. Any region which contains a division office is an area where the division has a loan office. Under AS 18.55.997 , regional housing authorities may make loans for the purchase or development of residential housing in rural areas of the state, other than in an area where the Corporation has a loan office.
History: Eff. 5/7/93, Register 130
Authority: AS 18.56.997
Editor's note: Before Register 130, July, 1994, the substance of 15 AAC 150.110 was contained in former 15 AAC 118.260(a)(6) and 19 AAC 80.150. The history note for 15 AAC 150.110 does not reflect the history of the sections under 15 AAC 118.260(a) (6) and 19 AAC 80.150.
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Last modified 7/05/2006