Regulations of Connecticut State Agencies
An application for a CHFA multifamily mortgage loan for a proposed housing project shall be accompanied by the exhibits required by the application form or otherwise necessary to determine whether the mortgage loan applied for should be made. The issuance of a mortgage commitment evidences approval by CHFA of the mortgage loan application. The terms and conditions upon which CHFA will make the mortgage loan shall be contained in the mortgage commitment. The mortgage commitment shall be effective for a period set forth therein.
CHFA may require any or all of the following prior to determining whether an applied for mortgage loan should be made, without limitation by reason of enumeration:
(a) proposed plans, drawings, and specifications for the proposed housing project;
(b) evidence of the existence, availability, and adequacy of all required utility services without deferred cost or charge for connection thereto;
(c) audited financial statements for the applicant's most recently completed fiscal year; and
(d) market study to the satisfaction of CHFA.
(Effective January 27, 1986)