Rules adopted pursuant to § 6-34.2 shall establish such procedures and requirements as are deemed necessary to implement a housing loan program, including but not limited to procedures and requirements governing:
(1) The qualifications of mortgage lenders;
(2) The making of advance commitments to purchase and the purchasing of eligible loans to be made by mortgage lenders;
(3) Loan applications made through mortgage lenders to eligible borrowers;
(4) The allocation of loans to mortgage lenders;
(5) The making of advance commitments and allocation of funds to purchase eligible loans from mortgage lenders; and
(6) The participation by mortgage lenders as originators and processors of eligible loans on behalf of the city.
(Sec. 31-2.4, R.O. 1978 (1983 Ed.)) (1990 Code, Ch. 6, Art. 34, § 6-34.5)