9-1105. Insured mortgage loans. Any bank or trust company may make such loans and advances of credit, and may purchase obligations representing loans and advances of credit, subject to the loan limitations contained in this act, as are eligible for insurance by the federal housing administrator or the successor of the administrator, and may obtain such insurance. Such loans may be secured by real property or leasehold if they be insured by the federal housing administrator or the successor of the administrator or there be a commitment to so insure or the bank or trust company obtains such insurance. |
