{"data":{"id":"us-nd/n.d.-cent.-code-6-09-44","jurisdiction":"us-nd","citation":"N.D. Cent. Code § 6-09-44","heading":"Residential mortgages","body":"1.The Bank may establish a residential mortgage loan program under which the Bank may originate residential mortgages if private sector mortgage loan services are not reasonably available. Under this program a local financial institution or credit union may assist the Bank in taking a loan application, gathering required documents, ordering required legal documents, and maintaining contact with the borrower.\n2.If the Bank establishes a program under this section, at a minimum the program must provide:\na.An applicant must be referred to the Bank by a local financial institution or credit union;\nb.The loan application must be for an owner-occupied primary residence; and\nc.The Bank provide all regulatory disclosures, process and underwrite the loan, prepare closing documents, and disburse the loan.\n3.The Bank may sell eligible first-time home buyer loans to the North Dakota housing finance agency.","path":["Title 6 Banks And Banking","Chapter 6-09 The Bank Of North Dakota"],"source_url":"https://ndlegis.gov/cencode/t06c09.pdf","current_through":"2026-07-31T11:12:02","vintage":"","retrieved_at":"2026-09-02T21:04:14Z","sha256":"58cdbff984dc3eb7bbcde8077666a16118ab8ea6040f797301018770ce19a147","source_id":"us-nd","stale":false,"prev":"us-nd/n.d.-cent.-code-6-09-43","next":"us-nd/n.d.-cent.-code-6-09-45"},"notice":"GroundRules: Original legal text. Not legal advice."}