(a) To be approved by the Department for participation in the program, a Mortgage Lender must meet the requirements in the Participation Packet to be a qualified Mortgage Lender as specified by:
  (1) FHA;
  (2) RHS;
  (3) VA; or
  (4) be a lender currently participating in the conventional home lending market for loans originated in accordance with Fannie Mae's and/or Freddie Mac's requirements.
(b) As a condition for participation in the Program, a qualified Mortgage Lender must:
  (1) agree to originate Mortgage Loans and assign those loans and related Mortgages and servicing to the Department's master servicer;
  (2) originate, process, underwrite, close and fund originated loans; and
  (3) be an approved Mortgage Lender with the Program's master servicer.

Source Note: The provisions of this §27.6 adopted to be effective March 3, 2022, 47 TexReg 906