Sec. 12. 10 MRSA §963-A, sub-§44, as enacted by PL 1985, c. 344, §7, is amended to read:

44. Project. "Project" means any eligible project or eligible collateral.

Sec. 13. 10 MRSA §964, sub-§1, ¶A, as enacted by PL 1983, c. 519, §6, is amended to read:

A. Mortgage Loan Insurance Program;

Sec. 14. 10 MRSA §964, sub-§1, ¶D, as enacted by PL 1983, c. 519, §6, is repealed.

Sec. 15. 10 MRSA §964, sub-§1, ¶E, as amended by PL 1985, c. 344, §8, is repealed.

Sec. 16. 10 MRSA §969-A, sub-§5, as amended by PL 1991, c. 511, Pt. A, §3, is further amended to read:

5. Loan transactions. Purchase, sell, service, pledge, invest in, hold, trade, accept as collateral or otherwise deal in, acquire or transfer, on such terms and conditions as the authority may specify, any mortgage loan, mortgage pass-through certificate, pledge including any pledge of mortgage revenue, mortgage participation certificate, revenue obligation security or other mortgage-backed or mortgage-related security. Any such transaction may be conducted by public or private offering, with or without public bidding. In connection with the purchase or sale of a mortgage loan or of a beneficial interest or participation in a mortgage loan, the authority may enter into one or more agreements providing for the custody, control and administration of the mortgage loan. Any such agreement may provide that the authority, a financial institution or other person shall act as trustor, trustee or custodian under the agreement. Any such agreement may provide that, with respect to mortgage loans governed by the agreement, title to a mortgage loan, or to a beneficial interest or participation in a mortgage loan, is deemed to have been transferred on terms and to the extent specified in that agreement and that the effect of a sale of a beneficial interest or participation in a mortgage loan is the same as a sale of a mortgage loan.