# WAC 262-01-090: WAC 262-01-090. Fair and equitable distribution of bond proceeds

> Washington · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_262_01_090

## Section

- **Citation:** WAC 262-01-090
- **Heading:** WAC 262-01-090. Fair and equitable distribution of bond proceeds
- **Jurisdiction:** Washington
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Washington Administrative Code / Title 262 / Chapter 262-01 / Section 262-01-090

## Text

(1) The commission shall distribute the proceeds of single family mortgage purchase bonds in a manner consistent with its plan of housing finance to insure, among other things, the fair geographical distribution of such proceeds throughout the state.
(2) The commission shall purchase eligible single family mortgage loans from mortgage lenders who provide such mortgage loans to eligible borrowers on a first come, first served basis following adequate public notice. Each mortgage lender shall provide a plan for commission approval which outlines how it will receive and process applications from prospective mortgagors so that the commission's funds will be distributed fairly and equitably. Such plan should address the manner by which the mortgage lender will publish the availability of such loans and how it will insure a fair and equitable process of application review. The commission reserves the right to modify such plans in consultation with mortgage lenders, in order to insure that all of its proceeds will be equitably and fairly distributed. Alternatively the commission may promulgate a plan or plans with which mortgage lenders must comply.
(3) The commission reserves the right as an alternative to subsection (2) of this section to institute a system of random allocation or drawing to assure the equitable distribution of mortgage loans.

## Nearby sections

- [WAC 262-01-010 WAC 262-01-010. Purpose](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_262_01_010.md)
- [WAC 262-01-020 WAC 262-01-020. Definitions](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_262_01_020.md)
- [WAC 262-01-030 WAC 262-01-030. Description of organization](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_262_01_030.md)
- [WAC 262-01-040 WAC 262-01-040. Meetings](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_262_01_040.md)
- [WAC 262-01-050 WAC 262-01-050. Public records](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_262_01_050.md)
- [WAC 262-01-060 WAC 262-01-060. Selection of bond counsel](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_262_01_060.md)
- [WAC 262-01-070 WAC 262-01-070. Selection of underwriters](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_262_01_070.md)
- [WAC 262-01-080 WAC 262-01-080. Use of proceeds consistent with plan](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_262_01_080.md)
- [WAC 262-01-090 WAC 262-01-090. Fair and equitable distribution of bond proceeds](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_262_01_090.md)
- [WAC 262-01-100 WAC 262-01-100. [(]Financing energy efficiency improvements[) as follows:][.]](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_262_01_100.md)
- [WAC 262-01-110 WAC 262-01-110. Contents of the qualified allocation plan](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_262_01_110.md)
- [WAC 262-01-120 WAC 262-01-120. Procedures for adopting the plan](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_262_01_120.md)
- [WAC 262-01-130 WAC 262-01-130. Tax credit program](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_262_01_130.md)
- [WAC 262-01-140 WAC 262-01-140. Private activity bond allocation](https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_262_01_140.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_WA_ADC_262_01_090. Check the current official text before relying on it. Not legal advice.