(1) These rules are enacted by the Montana Board of Housing ("board") to provide explanation and guidance to individuals in applying for reverse annuity mortgage loans. The legislature in enacting the reverse annuity mortgage loan program provided that the board shall adopt all procedural and substantive rules for the administration of the loan program. These rules are in conformance with the legislative directive.

(2) These rules shall be liberally construed to secure just, speedy, and inexpensive determination of the issues presented.

(3) If further information is needed as to procedures or instructions on reverse annuity mortgage loans, it will be furnished by the board.