<html> <head> <title>Rule 06:01:04:06 Collateral for mortgages not federally insured or guaranteed.</title> <META NAME="Keywords" Content="Administrative Rules 06:01:04:06"> <META NAME="Description" Content="Administrative Rules 06:01:04:06 Collateral for mortgages not federally insured or guaranteed."> <meta name=Generator content="Microsoft Office HTML Filter 2.0"> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Originator content="Microsoft Word 10"> <style> <!-- --> </style> </head> <body lang=EN-US> <div> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>6:01:04:06.&nbsp;&nbsp;Collateral for mortgages not federally insured or guaranteed.</b> Mortgages serving as collateral for an issue of securities which are not insured or guaranteed as provided in subdivision 6:01:04:05(1) shall be secured by residential properties geographically dispersed within the states served by the issuer. At least 85 percent of the par value of such mortgages shall be secured by detached single-family residential properties. A maximum of 5 percent of the par value of such mortgages may be secured by attached single-family residential properties and 2- to 4-family residential properties, and a maximum of 10 percent of the par value of such mortgages may be secured by primary residential townhouses and condominiums.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 9 SDR 53, effective November 3, 1982.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b>SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=4-5-28">4-5-28.</A></p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b>SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=4-5-28">4-5-28.</A></p> </div> </body> </html>