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Can you summarize Article 8, Chapter 58 NMSA?
Financial Institutions and Regulations > National Housing Act Loans and Obligations
Short Summary
The provided legal document governs the powers of state and national banks, trust companies, savings banks, building and loan associations, savings and loan associations, and lenders approved for loans by the National Housing Act. These entities are authorized to make loans secured by real property or leasehold, as insured or guaranteed by the federal housing administrator or veterans administrator. They are also permitted to invest in loans eligible for purchase by federal mortgage associations and mortgages guaranteed by the veterans administrator. The document does not specify any exemptions or penalties.
Whom does it apply to?
State and national banks, trust companies, savings banks, building and loan associations, savings and loan associations, and lenders approved for loans by the National Housing Act
What does it govern?
Powers of state and national banks, trust companies, savings banks, building and loan associations, savings and loan associations, and lenders approved for loans by the National Housing Act
What are exemptions?
No exemptions are specified in the document.
What are the Penalties?
No penalties are specified in the document.
Jurisdiction
New Mexico