HB 1819 - DIGEST

     Requires the commission, in cooperation with the state investment board, to develop and implement a housing finance program that:

     (1) Provides subsidized or unsubsidized mortgage financing for single-family home ownership, including a single condominium unit, located in the state of Washington;

     (2) Requests the state investment board to make investments, within its policies and investment guidelines, in mortgage-backed securities that are collateralized by loans made within the state of Washington; and

     (3) Provides flexible loan underwriting guidelines, including, but not limited to, provisions that will allow reduced downpayment requirements for the purchaser.