Purchase of federally insured housing mortgages

The authority may make commitments to purchase, and purchase, service, and sell federally insured mortgages and make loans directly upon the security of any such mortgage, if the underlying mortgage loans have been made and continue to be used solely to finance or refinance the construction, rehabilitation, purchase, or leasing of residential housing in this state. Source: SL 1973, ch 180 , § 17 (3); SDCL Supp, § 28-19-115; SL 1983, ch 106 , § 4Z; SL 2012, ch 78 , § 85.