Specifications include, but are not limited to: All mortgage loans originated under the program must be in compliance with standard requirements of the United States Government Agency or Government Sponsored Enterprise that purchase or issue mortgage-backed securities and must be made to persons who qualify under the Authorities program rules. In conjunction with the mortgage loans, SC Housing will also offer down payment assistance second mortgage loans (DPA) for the purpose of down payment and closing cost assistance. Second Mortgage loan terms may vary, but will generally be non-amortizing for terms up to twenty (20) years. The selected Contractor may be required to service both first and second mortgage loans. Contractor will pay an agreed upon SRP to the originating lender and will pool the loans into Freddie Mac, Fannie Mae or Ginnie Mae securities and deliver the securities to a Trustee or to another purchaser as directed by SC Housing. Contractor shall purchase loans from South Carolina lenders daily and issue or cause the issuance of FNMA, FHLMC, and GNMA mortgage-backed securities weekly if the aggregate amount of qualified mortgage loans on hand is enough to satisfy delivery requirements. [Note: Based on current program activity, bi-monthly issuance should be adequate.]