DIVISION 31. HOUSING AND HOME FINANCE 50000-54034›PART 3. CALIFORNIA HOUSING FINANCE AGENCY 50900-51511›CHAPTER 5. Financing of Housing Developments and Residential Structures 51100-51252›ARTICLE 4. Lender of Last Resort 51175-51177
§ 51176
California Health and Safety Code · 2018-11 edition · updated 2026-10-04 · California
In rural mortgage areas the agency may make and undertake commitments to make construction loans and mortgage loans to finance owner-occupied residential structures without the participation of a qualified mortgage lender if no qualified mortgage lender will participate in financing such residential structures as provided in Article 2 (commencing with Section 51125) or Article 3 (commencing with Section 51150) of this chapter, or if the board determines that the agency can initiate or service loans directly at less cost than through use of a qualified mortgage lender.
(Amended by Stats. 1981, Ch. 1031.)
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