Title 24--HOUSING AND URBAN DEVELOPMENT
Chapter II--OFFICE OF ASSISTANT SECRETARY FOR HOUSING--FEDERAL HOUSING


for Application, Commitment, and Endorsement Generally Applicable to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing...


Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing Projects ...


to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Existing ...


Insurance Claims for Insured Multifamily Mortgages Sec. 200.120 Purpose and applicability. Source: 64 FR 4769, Jan. 29, 1999, unless otherwise noted. ...


Insurance Claims for Insured Multifamily Mortgages Sec. 200.121 Requirements and effectiveness. (a) Multifamily mortgagees, which are required by 24 CFR part 207...


Property and mortgage assessment. Application for Insurance (a) The mortgagor is responsible for making those investigations,...


Presentation of claim. In the event the insured lender is entitled under the contract of mortgage insurance to receive a claim settlement, the mortgagee presents a claim...


Settlement of claims. Upon the Secretary's approval of a claim, the claim will be settled by issuance of cash, debentures or both, and, in certain cases, by issuance of...


Provisions and characteristics of debentures. (a) Series and fund. Debentures are issued in appropriate series and are the obligation of and issued in the name of...


Applicability of Treasury regulations to debenture transactions. The Department of the Treasury acts as fiscal agent for the Commissioner in connection with transactions...


Relief on account of lost, stolen, destroyed, mutilated or defaced debentures. The statutes of the United States and the regulations of the Treasury Department...


Redemption of debentures prior to maturity. Debentures shall, at the option of the Commissioner and with the approval of the Secretary of the Treasury, be redeemable at...


Administration of debenture transactions. The Secretary of the Treasury or the Acting Secretary of the Treasury is authorized and empowered, on behalf of the Commissioner,...


Certificates of claim. The certificate of claim issued to the mortgagee at the time debentures are issued constitutes an agreement by the FHA that after the FHA...


Programs Sec. 200.170 FHA Inspector Roster; Mortgagee and inspector requirements. FHA Inspector Roster ...


Programs Sec. 200.171 Placement on the Inspector Roster. (a) Application. To be considered for placement on the Roster, an inspector must apply...


Programs Sec. 200.172 Removal from the Inspector Roster. (a) Cause for removal. HUD may remove an inspector from the Roster for any cause...


Programs Sec. 200.190 HUD list of qualified 203(k) consultants. (a) Qualified consultant list. HUD maintains a list of qualified consultants for...


Programs Sec. 200.191 Placement of 203(k) consultant. (a) Application. To be considered for placement on the list, a consultant must apply to...


Programs Sec. 200.192 Removal of 203(k) consultant. (a) Cause for removal. HUD may remove a consultant from the list for any cause that...


Programs Sec. 200.193 Responsibilities of 203(k) consultants on the list. All consultants included on the list are responsible for: ...


Programs Sec. 200.194 Placement of nonprofit organization on Nonprofit Organization Roster. (a) Nonprofit Organization Roster. HUD maintains...


Programs Sec. 200.195 Removal of nonprofit organization from Nonprofit Organization Roster. (a) Cause for removal. HUD may remove a...


Roster? Source: 64 FR 72869, Dec. 28, 1999, unless otherwise noted. (a) Appraiser Roster. HUD maintains a list of appraisers. A mortgagee must...


for placement on the Appraiser Roster? (a) Application. To apply for placement on the Appraiser Roster, you must submit an application to HUD. (b) Eligibility. To...


for placement on the Appraiser Roster? (a) Application. To apply for placement on the Appraiser Roster, you must submit an application to HUD. (b) Eligibility. To...


HUD take against unsatisfactory appraisers on the Appraiser Roster? An unsatisfactory appraiser may be subject to removal, education requirements, or other actions,...


as an appraiser listed on the Appraiser Roster? All appraisers listed on the Appraiser Roster are responsible for: (a) Obtaining and reading the...


Policy. Source: 45 FR 54199, Aug. 14, 1980, unless otherwise noted. [[Page 35]] Previous Participation Review and Clearance Procedure ...


Applicability of procedure. The Previous Participation Review and Clearance procedure set forth in this part is administered by the Assistant Secretary for...


Definitions. (a) Affiliate. Any person or business concern that directly or indirectly controls policy of a principal or has the power to do so is an affiliate....


Filing of previous participation certificate on prescribed form. (a) A previous participation certificate on a form prescribed by the Assistant Secretary of...


Who must certify and sign. All principals must certify and sign the certificate personally as to their individual record and are responsible for its timely filing with...


Content of certification. (a) Each principal who executes the certificate certifies that: [[Page 37]] (1) The certificate contains a listing of every...


Certification of previous record on basis of a master list. A principal may avoid repetitious listings by providing HUD with a complete master list, acceptable to...


Multifamily Participation Review Committee and Participation Control Officer. The membership and authority of the Multifamily Participation Review Committee...


Approvals by Area Managers for limited partners. The Area Manager of the HUD Area Office where the certificate is filed is authorized to review the certificate and approve...


Determination by the Participation Control Officer. (a) The Participation Control Officer is authorized to: (1) Approve a principal when a review of the previous...


Multifamily Participation Review Committee. (a) Members. (1) The Director, Office of Lender Activities and Land Sales Registration serves as Chairman and does not vote....


Determination by the Review Committee. (a) The Review Committee shall make one of the following determinations in connection with every case referred to it by...


Withholding approval. Approval of a principal may be withheld for: (a) A period not to exceed 120 days when such action is deemed necessary to secure...


Standards for disapproval. The standards for disapproval shall be as follows: (a) Suspension, debarment or other restriction of the principal under part 24 of...


Effect and requirement of approval. Approval is required as a precondition for participation and constitutes clearance of the principal under this part for participation...


Modification or withdrawal of certain approvals. Approvals will not be modified or withdrawn except in cases where the principal is subsequently suspended or debarred from...


Notice of determination. The Participation Control Officer shall give written notice to the principal and to the field office concerned of disapproval under Sec. 200.226,...


Request for reconsideration of an adverse determination and request for a hearing. (a) Where approval has been withheld, denied, or conditionally granted, the principal...


Hearing rules--How and when to apply. (a) A principal who has been disapproved, conditionally approved, or who has had approval withheld by the Review Committee, either...


Hearing Officer determines facts and law: Review Committee makes final administrative decision. The Hearing Officer will determine the facts and the law relevant to...


fair housing policy. Federal Housing Administration programs shall be administered in accordance with: (a) The nondiscrimination and fair...


The purpose of this subpart is to assist in achieving the aims of part III of Executive Order 11246 and the relevant regulations of the Secretary of Labor and...


public. Participants in insurance programs under the National Housing Act shall be informed, as early as possible upon indicating their interest in any such program,...


term ``applicant''. (a) In any mortgage or loan insurance transaction under this chapter where the Commissioner will control the mortgagor either through the...


applicant. An applicant, prior to the Commissioner's issuance of any commitment or other loan approval, shall agree (in a form prescribed by the Commissioner)...


clause to be included in contracts and subcontracts. (a) The equal opportunity clause prescribed by the Commissioner pursuant to the regulations of the...


(a) Transactions of $10,000 or under. Contracts and subcontracts not exceeding $10,000 are exempt from the requirements of the equal opportunity clause. No...


Failure or refusal to comply and give satisfactory assurances of future compliance with the requirements of this subpart shall be proper basis for applying sanctions....


Purpose. Source: 37 FR 75, Jan. 5, 1972, unless otherwise noted. The purpose of this subpart is to set forth the Department's equal opportunity regulations...


Authority. The regulations in this subpart are issued pursuant to the authority to issue regulations granted to the Secretary by section 7(d) of the Department of...


Policy. It is the policy of the Department to administer its FHA housing programs affirmatively, as to achieve a condition in which individuals of similar income levels...


Applicability. The affirmative fair housing marketing requirements, as set forth in paragraphs (a) through (f) of Sec. 200.620, shall apply to all applicants...


Requirements. With respect to all FHA subsidized or unsubsidized programs in which the applicant hereafter participates (except for housing for which a...


Affirmative fair housing marketing plan. Each applicant for participation in FHA housing programs to which these regulations apply shall provide on a form to be supplied by...


Notice of housing opportunities. The Director of each Field Office shall prepare monthly a list of all projects covered by this subpart, and of all initial submissions...


Compliance. Applicants failing to comply with the requirements of this subpart will make themselves liable to sanctions authorized by regulations, rules or...


Effect on other requirements. The requirement for compliance with this part is in addition to, and not in substitution for, any other requirements imposed by or...


paint. Source: 64 FR 50224, Sept. 15, 1999, unless otherwise noted. The Lead-Based Paint Poisoning Prevention Act (42 U.S.C. 4821-4846), the...


Applicable surface. All intact and nonintact interior and exterior painted surfaces of a residential structure. Defective paint surface. Paint on...


Single family insurance and coinsurance. (a) General. (1) The requirements of this section apply to any one- to four-family dwelling which was constructed before 1978 and is...


Purpose. Source: 65 FR 77240, Dec. 8, 2000, unless otherwise noted. The purpose of this subpart is to establish the physical conditions standards and...


Applicability. This subpart applies to: (a) Housing assisted by HUD under the following programs: (1) All Section 8 project-based assistance....


Physical condition standards and physical inspection requirements. (a) Applicable standards and requirements. The physical condition standards and physical...


Administrative process for scoring and ranking the physical condition of multifamily housing properties. (a) Scoring and ranking of the physical condition of...


minimum property standards. All housing constructed under HUD mortgage insurance and low-rent public housing programs shall meet or exceed HUD Minimum...


care-type minimum property standards. (a) Construction standards. Multifamily or care-type properties shall comply with the minimum property standards contained...


institutional building code comparison items. HUD will review each local code submitted under this chapter to determine whether it regulates all of the...


(a) Incorporation by reference. The following publications are incorporated by reference under 5 U.S.C. 552(a) and 1 CFR part 51. The incorporation by reference...


standards for one and two family dwellings. (a) Construction standards--(1) Applicable structures. The standards identified or contained in this section, and in...


code comparison items. HUD will review each local and State code submitted under this subpart to determine whether it regulates all of the following areas...


(a) Incorporation by reference. The following model code publications are incorporated by reference in accordance with 5 U.S.C. 552(a) and 1 CFR part 51....


provisions for use in partially accepted code jurisdictions. If a lender or other interested party is notified that a State or local building code has been...


(a) Application--(1) General. These standards cover the agency requirements for accessibility to physically handicapped people, variations...


for use with the CABO One and Two Family Dwelling Code. The following shall be used in Table No. R-202, Climatic and Geographic Design Criteria of...


reference of minimum property standards. The Minimum Property Standards as contained in the handbooks identified in Sec. 200.929(b) are incorporated by reference...


identification of minimum property standards. (a) Description. The Minimum Property Standards describe physical standards for housing. They are intended to provide...


Accessibility Guidelines. Builders and developers may use the Department's Fair Housing Accessibility Guideline when designing or constructing covered...


availability. (a) Updated copies of the Minimum Property Standards and Use of Materials Bulletins are available for public examination in the Office of Consumer...


minimum property standards. Changes in the Minimum Property Standards will generally be made every three years. Changes will be made in accordance with HUD policy for...


system for the technical suitability of products program. (a) General. This section establishes fee requirements for the issuance of Structural Engineering...


and procedures for HUD building products certification programs. (a) General. This section establishes administrator qualifications and procedures...


procedural requirements under HUD building products certification program for solid fuel type room heaters and fireplace stoves. (a) Applicable...


procedural requirements under HUD building product standards and certification program for plastic bathtub units, plastic shower receptors and stalls,...


requirements under the HUD building product standards and certification program for sealed insulating glass units. (a) Applicable standards. (1) All...


procedural requirements under HUD building product standards and certification program for carpet and carpet with attached cushion. (a)...


requirements under the HUD building product standards and certification program for the grademarking of lumber. (a) Applicable standard. (1) In accordance...


requirements under the HUD building product standards and certification program for plywood and other performance rated wood-based structural-use panels. ...


requirements under the HUD building product standards and certification program for carpet. (a) Applicable standards. (1) All carpet shall be...


standards and certification program for exterior finish and insulation systems, use of Materials Bulletin UM 101. (a) Applicable standards: (1) All Exterior Finish...


standards and certification program for polystyrene foam insulation board. (a) Applicable standards. (1) All polystyrene foam insulation board shall be...


standards and certification program for carpet cushion. (a) Applicable standards. (1) All carpet cushion shall be designed, manufactured, and tested in...


standards and certification program for exterior insulated steel door systems. (a) Applicable standards. (1) All Exterior Insulated Steel Door Systems shall...


standards and certification program for solar water heating system. (a) Applicable standards. (1) All solar water heating systems shall be designed,...


requirements under the HUD building product standards and certification program for particleboard interior stair treads. (a) Applicable standards. (1)...


requirements under the HUD building product standard and certification program for construction adhesives for wood floor systems. (a)...


requirements under the HUD building product standard and certification program for fenestration products (windows and doors). (a) Applicable...


Assistance Applicants and Participants Sec. 200.1001 Cross-reference. The provisions in subpart B of part 5 of this title apply to Social Security...


Applicants in Unassisted Programs Sec. 200.1101 Cross-reference. The provisions in subpart B of part 5 of this title apply to Social Security...


Cross-reference. The provisions in subpart B of part 5 of this title apply to income information for assistance applicants and participants. [61 FR...


Clause. No new loan assistance, additional participation, or new loans are being insured under the programs listed below. Any existing...


programs--savings clause. No new loan assistance, additional participation, or new loans are being insured under the programs listed in this section. (a)...


exclusions for the Rent Supplement Program. (a) The exclusions to annual income described in 24 CFR 5.609(c) apply to those rent supplement contracts governed by...


Purpose. Subpart A_General Sec. 201.1 Purpose. 201.2 Definitions. 201.3 Applicability of...


Definitions. As used in the regulations in this part the term: Act means the National Housing Act, 12 U.S.C. 1703. Actuarial method means the method...


Applicability of the regulations. The regulations in this part may be amended by the Secretary at any time. Such amendment shall not adversely affect the...


Rules of construction. As used in this part, and unless the context indicates otherwise, words in the singular include the plural,...


Waivers. Waiver of lender's noncompliance. The Secretary may waive a lender's noncompliance with any provision of this part, subject to statutory limitations, when...


Disclosure and verification of Social Security and Employer Identification Numbers. To be eligible for loan insurance under this part, the borrower must meet...


201.10 Loan amounts. (a) Property improvement loans. (1) The total principal obligation for a property improvement loan shall not exceed the actual cost of...


201.11 Loan maturities. (a) Property improvement loans. The term of a property improvement loan shall be not less than six months and not more than 20 years and...


201.12 Requirements for the note. The note shall bear the genuine signature of each borrower and of any co-maker or co-signer, be valid and enforceable against...


201.13 Interest and discount points. The interest rate for any loan shall be negotiated and agreed to by the borrower and the lender, and such interest rate shall...


201.14 Payments on the loan. The note normally shall provide for equal installment payments due weekly, biweekly, semi-monthly or monthly. The note may provide...


201.15 Late charges to borrowers. (a) Imposition of late charge. The note may provide for imposition of a late charge unless precluded by State law. The late...


201.16 Default provision. The loan note shall contain a provision for acceleration of maturity, at the option of the holder, upon a default by...


201.17 Prepayment provision. The note shall contain a provision permitting full or partial prepayment of the loan without penalty, except that the borrower may...


201.18 Modification agreement or repayment plan. (a) Modification agreement or repayment plan. A written but unrecorded modification agreement acceptable to the...


201.19 Refinanced and assumed loans. (a) Conditions on refinancing. (1) An existing insured property improvement loan or manufactured home loan may be...


201.20 Property improvement loan eligibility. (a) Borrower eligibility. (1) To be eligible for a property improvement loan (other than a...


201.21 Manufactured home loan eligibility. (a) Borrower eligibility. To be eligible for a manufactured home loan (whether a manufactured home...


201.22 Credit requirements for borrowers. (a) Credit application and review. (1) Before making a loan insured under this part, the lender shall...


201.23 Borrower's initial payment. (a) General requirement. The borrower shall be responsible for the payment in cash of any costs that will not be...


201.24 Security requirements. (a) Property improvement loans--(1) Property improvement loans in excess of $7,500. (i) Any property improvement loan in...


201.25 Charges to borrower to obtain loan. (a) Fees and charges that may be financed in a property improvement loan. The Secretary will establish a list...


201.26 Conditions for loan disbursement. (a) Property improvement loans. The lender shall comply with the following applicable requirements...


201.27 Requirements for dealer loans. (a) Dealer approval and supervision. (1) The lender shall approve only those dealers which, on the basis...


201.28 Flood and hazard insurance, and Coastal Barriers properties. (a) Flood insurance. No property improvement loan or manufactured home loan shall...


201.29 Ineligible participants. No loan may be insured under this part where the lender has been advised in writing by HUD or otherwise knows that...


Reporting of loans for insurance. (a) Date of reports. The lender shall transmit a loan report on each loan reported for insurance within 31 days from the...


201.31 Insurance charge. (a) Insurance charge. For each eligible property improvement loan and manufactured home loan reported and acknowledged for insurance,...


201.32 Insurance coverage reserve account. (a) Establishment. The Secretary shall establish an insurance coverage reserve account for each lender. The amount...


201.40 Post-disbursement loan requirements. (a) Discovery of misstatements of fact. If, after a loan has been made, the lender discovers any...


201.41 Loan servicing. (a) Generally. The lender shall service loans in accordance with accepted practices of prudent lending institutions. It shall have...


201.42 Bankruptcy, insolvency or death of borrower. (a) Bankruptcy or insolvency. The lender shall file a proof of claim with the court having jurisdiction when...


201.43 Administrative reports and examinations. The Secretary may call upon a lender for any reports deemed necessary in connection with the regulations in this part...


201.50 Lender efforts to cure the default. (a) Personal contact with the borrower before acceleration and foreclosure or repossession. The lender...


201.51 Proceeding against the loan security. (a) Property improvement loans. (1) After acceleration of maturity on a secured property improvement loan,...


201.52 Acquisition by voluntary conveyance or surrender. The lender may accept a voluntary conveyance of title to or ownership of the property securing...


201.53 Disposition of manufactured home loan property. Where the lender obtains title to property securing a manufactured home loan by repossession...


201.54 Insurance claim procedure. (a) Claim application. A claim for reimbursement for loss on any eligible loan shall be made on a HUD-approved form,...


201.55 Calculation of insurance claim payment. The lender will be reimbursed in an amount not to exceed 90 percent of its loss on any eligible loan up to...


I Sec. 201.60 General. Source: 58 FR 47379, Sept. 9, 1993, unless otherwise noted. (a) Applicability. The provisions in this subpart apply to...


I Sec. 201.61 Claims against debtors--principal amount of debt. (a) Liability. A debtor is liable to the Secretary for the principal amount of the debt,...


I Sec. 201.62 Claims against debtors--interest, penalties, and administrative costs. (a) Interest. In addition to the principal amount of the debt, the...


I Sec. 201.63 Claims against lenders. Claims against lenders for money owed to the Department, including unpaid insurance charges and unpaid repurchase...


Purpose. Subpart A_General Requirements Sec. 202.1 Purpose. 202.2 Definitions 202.3 Approval status for lenders...


Definitions. Act means the National Housing Act (12 U.S.C. 1702 et seq.) Claim means a single family insured mortgage for which the Secretary pays an insurance...


Approval status for lenders and mortgagees. (a) Initial approval. A lender or mortgagee may be approved for participation in the Title I or Title...


Request for determination of compliance. Pursuant to section 539(a) of the Act, any person may file a request that the Secretary determine whether a lender or mortgagee is...


General approval standards. To be approved for participation in the Title I or Title II programs, and to maintain approval, a lender or mortgagee shall meet...


202.6 Supervised lenders and mortgagees. (a) Definition. A supervised lender or mortgagee is a financial institution which is a member of the Federal Reserve...


Nonsupervised lenders and mortgagees. (a) Definition. A nonsupervised lender or mortgagee is a lending institution which has as its principal activity the lending...


202.8 Loan correspondent lenders and mortgagees. (a) Definitions. Loan correspondent. (1) A loan correspondent lender does not hold a Title I Contract...


Investing lenders and mortgagees. (a) Definition. An investing lender or mortgagee is an organization that is not approved under any other section of this part....


202.10 Governmental institutions, Government-sponsored enterprises, public housing agencies and State housing agencies. (a) Definition. A Federal, State or...


202.11 Title I. (a) Administrative actions--(1) Types of action. In addition to termination of the Contract of Insurance, certain sanctions may be...


202.12 Title II. (a) Tiered pricing--(1) General requirements--(i) Prohibition against excess variation. The customary lending practices of a mortgagee for...


Underwriting procedures. Subpart A_Eligibility Requirements and Underwriting Procedures Direct Endorsement, Lender Insurance,...


Approval of mortgagees for Direct Endorsement. (a) Direct Endorsement approval. To be approved for the Direct Endorsement program set forth in Sec. 203.5, a...


Approval of mortgagees for Lender Insurance. Each mortgagee that chooses to participate in the Lender Insurance program must use the Lender Insurance process to insure...


Direct Endorsement process. (a) General. Under the Direct Endorsement program, the Secretary does not review applications for mortgage insurance before the...


Lender Insurance process. Under the Lender Insurance program, a mortgagee approved for the program conducts its own pre-insurance review, insures the mortgage,...


Commitment process. For single family mortgage programs that are not eligible for Direct Endorsement processing under Sec. 203.5, or for Lender Insurance...


Disclosure regarding interest due upon mortgage prepayment. Each mortgagee with respect to a mortgage under this part shall at or before closing with respect to any...


Informed consumer choice for prospective FHA mortgagors. (a) Mortgagee to provide disclosure notice. A mortgagee must provide a prospective FHA mortgagor with...


Mortgage insurance on proposed or new construction. (a) Applicability. This section applies to an application for insurance of a mortgage on a one-to four-family...


Builders' warranty. Applications relating to proposed construction must be accompanied by an agreement in form satisfactory to the Secretary, executed by...


Certification of appraisal amount. An application with respect to insurance of mortgages must be accompanied by an agreement satisfactory to the Commissioner,...


Certificate and contract regarding use of dwelling for transient or hotel purposes. Every application filed with respect to insurance of mortgages on a two-,...


Mortgagor and mortgagee requirement for maintaining flood insurance coverage. (a) If the mortgage is to cover property improvements (dwelling and...


Mortgage provisions. (a) Mortgage form. (1) The term mortgage as used in this part, except Sec. 203.43c, means a first lien as is commonly given to secure...


Maximum mortgage amounts. (a) Mortgagors of principal or secondary residences. The principal amount of the mortgage must not exceed the lesser of the...


Solar energy system. (a) The dollar limitation provided in Sec. 203.18(a) may be increased by up to 20 percent if such an increase is necessary to account for...


Increased mortgage amount. (a) If any party believes that a mortgage limit established by the Secretary under Sec. 203.18(a)(1) does not accurately reflect...


One-time or up-front mortgage insurance premium excluded from limitations on maximum mortgage amounts. After determining any maximum insurable mortgage amount under...


Minimum principal loan amount. A mortgagee may not require, as a condition of providing a loan secured by a mortgage insured under this part, that the principal...


Mortgagor's minimum investment. (a) At the time the mortgage is insured, the mortgagor shall have paid in cash or its equivalent the following minimum amount: ...


Agreed interest rate. (a) The mortgage shall bear interest at the rate agreed upon by the mortgagee and the mortgagor. (b) Interest shall be payable in...


Amortization provisions. The mortgage must contain complete amortization provisions satisfactory to the Commissioner, requiring monthly payments by the mortgagor...


Payment of insurance premiums or charges; prepayment privilege. (a) Payment of periodic insurance premiums or charges. Except with respect to mortgages for which...


Mortgagor's payments to include other charges. (a) The mortgage shall provide for such equal monthly payments by the mortgagor to the mortgagee as will amortize: ...


Application of payments. (a) All monthly payments to be made by the mortgagor to the mortgagee shall be added together and the aggregate amount thereof shall be...


Late charge. The mortgage may provide for the collection by the mortgagee of a late charge, not to exceed four per cent of the amount of each payment more than...


Mortgagor's payments when mortgage is executed. (a) The mortgagor must pay to the mortgagee, upon execution of the mortgage, a sum that will be sufficient to pay...


Charges, fees or discounts. (a) The mortgagee may collect from the mortgagor the following charges, fees or discounts: (1)...


Economic soundness of projects. The mortgage must be executed with respect to a project which, in the opinion of the Commissioner, is economically sound, except...


Eligible mortgages in Alaska, Guam, Hawaii, or the Virgin Islands. (a) When is an increased mortgage limit permitted for these areas? For Alaska, Guam, Hawaii or...


Certificate of nondiscrimination by the mortgagor. The mortgagor shall certify to the Commissioner as to each of the following points: (a) That neither he,...


Mortgagor of a principal residence in military service cases. (a) A mortgage that is otherwise eligible for insurance under any of the provisions of this part may...


Mortgage lien. (a) Except as otherwise provided in this section, a mortgagor must establish that, after the mortgage offered for insurance has been recorded,...


Relationship of income to mortgage payments. (a) Adequacy of mortgagor's gross income. A mortgagor must establish, to the satisfaction of the Secretary, that his or...


[Code of Federal Regulations] [Title 24, Volume 2] [Revised as of April 1, 2004] From the U.S. Government Printing Office via GPO Access [CITE: 24CFR203.34] [Page 156] TITLE 24--HOUSING AND URBAN DEVELOPMENT CHAPTER II--OFFICE OF ASSISTANT SECRETARY FOR HOUSING--FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT PART 203_SINGLE FAMILY MORTGAGE INSURANCE--Table of Contents Subpart A_Eligibility Requirements and Underwriting Procedures Sec. 203.34 Credit standing. A mortgagor must have a general credit standing satisfactory to the Commissioner. ...


Disclosure and verification of Social Security and Employer Identification Numbers. To be eligible for mortgage insurance under this part, the mortgagor must meet...


Nature of title to realty. A mortgage, to be eligible for insurance, must be on real estate held in fee simple, or on leasehold under a lease for not less than...


Sale of property. (a) Sale by owner of record. (1) Owner of record requirement. To be eligible for a mortgage insured by FHA, the property must be...


Location of dwelling. At the time a mortgage is insured there must be located on the mortgaged property one or more dwellings designed principally for residential...


[Code of Federal Regulations] [Title 24, Volume 2] [Revised as of April 1, 2004] From the U.S. Government Printing Office via GPO Access [CITE: 24CFR203.39] [Page 157] TITLE 24--HOUSING AND URBAN DEVELOPMENT CHAPTER II--OFFICE OF ASSISTANT SECRETARY FOR HOUSING--FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT PART 203_SINGLE FAMILY MORTGAGE INSURANCE--Table of Contents Subpart A_Eligibility Requirements and Underwriting Procedures Sec. 203.39 Standards for buildings. The buildings on the mortgaged property must conform with the standards prescribed by the Commissioner. ...


Location of property. The mortgaged property shall be located within the United States, Puerto Rico, Guam, the Virgin Islands, the Commonwealth of the...


Free assumability; exceptions. (a) Definitions. As used in this section: (1) Low- or moderate-income housing means housing which is designed to be...


Rental properties. (a) A mortgage on property upon which there is a dwelling to be rented by the mortgagor shall not be eligible [[Page...


Eligibility of miscellaneous type mortgages. (a) A mortgage which meets the requirements of this subpart, except as modified by this section, shall be eligible...


Eligibility of mortgages covering housing in certain neighborhoods. (a) A mortgage financing the repair, rehabilitation, construction, or purchase of...


Eligibility of mortgages involving a dwelling unit in a cooperative housing development. A mortgage involving a dwelling unit in a cooperative...


Eligibility of mortgages in certain communities. Notwithstanding any other requirements of this subpart, a mortgage covering a one- to four-family dwelling occupied...


Eligibility of mortgages covering houses in federally impacted areas. (a) A mortgage executed in connection with the construction, repair, rehabilitation...


Eligibility of mortgages covering manufactured homes. A mortgage covering a one-family manufactured home (as defined in 24 CFR 3280.2(a)(16)) that meets...


Eligibility of mortgages in certain communities. (a) A mortgage which meets the requirements of this subpart shall be eligible for insurance without regard to...


Eligibility of mortgages on Indian land insured pursuant to section 248 of the National Housing Act. A mortgage covering a one- to four-family residence located...


Eligibility of mortgages on Hawaiian Home Lands insured pursuant to section 247 of the National Housing Act. (a) Eligibility. A mortgage on a homestead lease...


Eligibility of mortgages on Allegany Reservation of Seneca Nation of Indians. A mortgage on a leasehold estate covering a one- to four-family residence...


Eligibility of advances. Mortgagees may not make open-end advances under section 225 of the National Housing Act (12 U.S.C. 1715p) in connection with the...


Eligibility of graduated payment mortgages. A mortgage containing provisions for varying rates of amortization corresponding to anticipated variations in family...


Eligibility of growing equity mortgages. A mortgage containing provisions for accelerated amortization corresponding to anticipated variations in family income...


Eligibility of adjustable rate mortgages. A mortgage containing the provisions for periodic adjustments by the mortgagee in the effective rate of interest...


Eligibility of adjustable rate mortgages. A mortgage containing the provisions for periodic adjustments by the mortgagee in the effective rate of interest...


Eligibility of rehabilitation loans. A rehabilitation loan which meets the requirements of this subpart, except as modified by this section, shall be eligible...


Applicability. The provisions of Sec. Sec. 203.18 (a), (c), (d), (e)(1), and (f); Sec. 203.29(c); Sec. 203.31; Sec. 203.43(c); 203.43(k); Sec. 203.43c(g);...


Acceptance of individual residential water purification equipment. If a property otherwise eligible for insurance under this part does not have access to...


Definitions. As used in Sec. 203.201 through Sec. 203.209, the following terms shall have the meaning indicated: Coverage contract means a...


Scope. Effective August 6, 1991, the provisions and requirements set forth in Sec. 203.202 through Sec. 203.209 apply to one- to four-family dwellings covered...


Plan acceptability and acceptance renewal criteria--general. (a) For a Plan to be acceptable to HUD, it must assure that: (1) If a builder, for any reason,...


Issuance and nature of insured 10-year protection plans. (a) Plans may be issued: (1) By a builder, warranty company, insurance company, or Risk Retention...


Requirements and limitations of a plan. In addition to complying with the criteria set out in Sec. 203.202 and Sec. 203.205, for a Plan to be acceptable to HUD,...


Plan coverage. (a) Plan coverage must take effect at closing or settlement following the initial sale of the property to the homeowner. (b) During the first...


Housing performance standards or criteria. A Plan may contain housing performance standards or criteria for resolution of homeowner claims or complaints that are...


Designated area. The Secretary may designate any part of the country as a ``high risk area'' where construction practices allow basement slabs to be placed...


Insurance backing criteria. An insurance company backing or operating a Plan must be duly licensed or approved (and with the Plan filed and approved...


Payments under a plan. (a) If a Plan issuer or insurance backer elects to compensate a homeowner for damage suffered by the homeowner's property that is...


Effect of amendments. The regulations in this subpart may be amended by the Secretary at any time and from time to time, in whole or in part, but such...


Definitions. Definitions As used in this subpart, the following terms shall have the meaning indicated: (a)...


Insurance of mortgage. (a) Mortgages with firm commitments. For applications for insurance involving mortgages not eligible to be originated under the Direct...


Insurance of open-end advance. Insurance on an open-end advance will be evidenced by delivery of a certificate stating the amount of the advance, the date of insurance,...


Creation of the contract. The mortgage shall be an insured mortgage from the date of the issuance of a Mortgage Insurance Certificate, from the date of the endorsement of...


Substitute mortgagors. (a) Selling mortgagor. Except as provided in paragraph (d) of this section, the mortgagee may effect the release of a mortgagor from...


Method of payment of MIP. The payment of any MIP under this subpart shall be made to the Commissioner by the mortgagee either in cash or debentures at par plus...


Scope. (a) The Commissioner shall charge a one-time MIP pursuant to Sec. 203.280 for mortgages that: (1) Are insured pursuant to Sec. 203.43(c) (if the mortgage...


Amount of mortgage insurance premium (periodic MIP). The mortgagee shall pay to the Commissioner an initial MIP in an amount equal to one-half of one percent of the...


Calculation of periodic MIP. The amount of any periodic MIP shall be calculated in accordance with the original amortization provisions of the mortgage, without taking...


Due date of periodic MIP. The full initial and each annual MIP shall be due and payable to the Commissioner no later than the 10th day after the amortization...


Payment of periodic MIP. The mortgagee shall pay each MIP in twelve equal monthly installments. Each monthly installment shall be due and payable to the Commissioner no...


Mortgagee's late charge and interest. (a) Periodic MIP which are received by the Commissioner after the payment dates prescribed by Sec. Sec. 203.262 and 203.264 shall...


Period covered by periodic MIP. The initial MIP shall cover the period beginning with the date of the issuance of a Mortgage Insurance Certificate and ending on the...


Duration of periodic MIP. The mortgagee shall pay the MIP to the Commissioner until the deed to the Commissioner is filed for record or the contract of insurance...


Pro rata payment of periodic MIP. (a) If the insurance contract is terminated before the due date of the initial MIP, the mortgagee shall pay a portion of the MIP...


Method of payment of periodic MIP. In cases that the Commissioner deems appropriate, the Commissioner may require, by means of instructions communicated to all...


Open-end insurance charges. (a) Required charge. In the case of an insured open-end advance the mortgagee shall pay to the Commissioner an open-end insurance charge. ...


One-time MIP. For mortgages for which a one-time MIP is to be charged in accordance with Sec. 203.259a, the mortgagee shall, within fifteen days of closing and as a...


Calculation of one-time MIP. (a) The applicable premium percentage determined under paragraph (b) of this section assumes, for purposes of calculation, that the entire...


Mortgagee's late charge and interest. (a) Payment of one-time MIP is late if it is not received by HUD by the fifteenth day after closing. Late payment shall include a...


Refund of one-time MIP. (a) The Commissioner shall provide for the refund to the mortgagor of a portion of the unearned MIP paid pursuant to Sec. 203.280 if the contract...


Calculation of up-front and annual MIP on or after July 1, 1991. Except for insured mortgages with a term of 15 or fewer years executed on or after December 26, 1992,...


Fifteen-year mortgages: Calculation of up-front and annual MIP on or after December 26, 1992. (a) Up Front. Any mortgage for a term of 15 or fewer years executed on or...


Discontinuance of adjusted premium charge. Notwithstanding any provision in the mortgage instrument, there shall be no adjusted mortgage insurance...


Voluntary termination. Upon request by the mortgagor and mortgagee the Commissioner may terminate the insurance contract on any mortgage under this part covering a...


Termination by conveyance to other than Commissioner. (a) For those mortgages to which the provisions of Sec. 203.368 apply, the contract of insurance shall be terminated...


[Code of Federal Regulations] [Title 24, Volume 2] [Revised as of April 1, 2004] From the U.S. Government Printing Office via GPO Access [CITE: 24CFR203.316] [Page 196] TITLE 24--HOUSING AND URBAN DEVELOPMENT CHAPTER II--OFFICE OF ASSISTANT SECRETARY FOR HOUSING--FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT PART 203_SINGLE FAMILY MORTGAGE INSURANCE--Table of Contents Subpart B_Contract Rights and Obligations Sec. 203.316 Termination by prepayment of mortgage. The contract of insurance shall be terminated if the mortgage is paid in full prior to its maturity. ...


[Code of Federal Regulations] [Title 24, Volume 2] [Revised as of April 1, 2004] From the U.S. Government Printing Office via GPO Access [CITE: 24CFR203.317] [Page 196] TITLE 24--HOUSING AND URBAN DEVELOPMENT CHAPTER II--OFFICE OF ASSISTANT SECRETARY FOR HOUSING--FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT PART 203_SINGLE FAMILY MORTGAGE INSURANCE--Table of Contents Subpart B_Contract Rights and Obligations Sec. 203.317 Termination by voluntary agreement. The contract of insurance shall be terminated if the mortgagor and mortgagee jointly request termination. ...


Notice of termination by mortgagee. No contract of insurance shall be terminated until the mortgagee has given written notice thereof to the Commissioner within 15 calendar...


Pro rata payment of premiums and charges. No contract of insurance shall be terminated until the mortgagee has paid to the Commissioner the pro rata portion of the current...


Notice and date of termination by Commissioner. The Commissioner shall notify the mortgagee that the contract of insurance has been terminated and the effective...


Effect of termination. Upon termination of the contract of insurance, the obligation to pay any subsequent periodic MIP or open-end insurance charge shall cease and...


Delinquency and default. A mortgage account is delinquent any time a payment is due and not paid. If the mortgagor fails to make any payment, or to perform any...


Date of default. For the purposes of this subpart, the date of default shall be considered as 30 days after-- (a) The first uncorrected failure to perform any...


Notice of delinquency. Once each month the mortgagee shall report or cause to be reported all mortgages insured under this part which are 90 or more days delinquent...


Reinstatement of defaulted mortgage. If after default and prior to the completion of foreclosure proceedings the mortgagor shall cure the default, the insurance...


Special forbearance. (a) If the conditions of Sec. 203.614 are met and special forbearance relief is granted pursuant to that section, the contract of insurance...


Partial claim. If the conditions of Sec. 203.371 are met and a partial claim is paid pursuant to that section, the contract of insurance [[Page...


Mortgage modification. If a mortgage is recast pursuant to Sec. 203.616, the principal amount of the mortgage, as modified, shall be considered to be the ``original...


Partial release, addition or substitution of security. (a) Except as provided in Sec. 203.389(n), a mortgagee shall not release the security or any part thereof, while...


Postponement of principal payments--mortgagors in military service. In addition to the special forbearance relief afforded by Sec. Sec. 203.340 through 203.342, if...


Postponement of foreclosure--mortgagors in military service. If at any time during default the mortgagor is a ``Person in military service,'' as such term is defined in...


Assignment of mortgage. (a) Assignment of modified mortgages pursuant to section 230, National Housing [[Page 199]] Act. HUD may accept an assignment of...


Application for insurance benefits and fiscal data. On the date the assignment of the mortgage is filed for record, the mortgagee shall forward to the Commissioner...


Certification by mortgagee. At the time of assignment of the mortgage, the mortgagee shall certify to the Commissioner that: (a) Priority of mortgage to liens....


Acquisition of property. (a) In general. Upon default of a mortgage, except as provided in paragraphs (b) through (i) of this section, the mortgagee shall take one of...


Notice of foreclosure and pre-foreclosure sale; reasonable diligence requirements. (a) Notice of foreclosure and pre-foreclosure sale. The mortgagee must give notice to...


Deed in lieu of foreclosure. (a) Mortgagors owning one property. In lieu of instituting or completing a foreclosure, the mortgagee may acquire property from one other than...


Direct conveyance of property. In acquiring the property or conveying the property to the Commissioner the mortgagee may arrange for the deed to be made directly to...


Time of conveyance to the Secretary. (a) For mortgages insured under firm commitments issued prior to November 19, [[Page 203]] 1992 or under...


Notice of property transfer or pre-foreclosure sale and application for insurance benefits. (a) On the date the deed is filed for record the mortgagee shall notify...


Acceptance of property by Commissioner. Upon receipt of notice of property transfer the Commissioner shall accept title to and possession of the property as of the date of...


Conditions for withdrawal of application for insurance benefits. With the consent of the Commissioner, a mortgagee may withdraw an application for insurance benefits if...


Effect of noncompliance with regulations. (a) For mortgages insured under firm commitments issued prior to November 19, 1992 or under direct endorsement processing where...


Mortgagee's liability for property expenditures. Where the Secretary acquires a property and thereafter it becomes necessary for the Secretary to reconvey the property to...


Documents and information to be furnished the Secretary; claims review. (a) Items to be furnished the Secretary. Within 45 days after the deed is filed for record, in...


Conveyance of marketable title. (a) Satisfactory conveyance of title and transfer of possession. The mortgagee shall tender to the Commissioner a satisfactory conveyance...


Contents of deed and supporting documents. The deed and supporting accompanying documents shall be as follows: (a) Deed. A deed conveying the property to the...


Claims without conveyance procedure. (a)(1) The requirements of this section apply to any insured mortgage subject to this subpart which was either insured pursuant to: ...


Deficiency judgments. (a) Mortgages insured on or after March 28, 1988. (1) For mortgages insured pursuant to firm commitments issued on or after March 28, 1988, or...


Pre-foreclosure sales. (a) General. HUD will pay FHA insurance benefits to mortgagees in cases where, in accordance with all regulations and procedures applicable...


Partial claim. (a) General. Notwithstanding the conveyance, sale or assignment requirements for payment of a claim elsewhere in this part, HUD will pay partial FHA...


Inspection and preservation of properties. The mortgagee, upon learning that a property subject to a mortgage insured under this part is vacant or abandoned, shall be...


Property condition. (a) Condition at time of transfer. When the property is transferred, or a mortgage is assigned to the Commissioner, the property shall be undamaged...


Adjustment for damage or neglect. (a) If the property has been damaged by fire, flood, earthquake, hurricane, or tornado, or, for mortgages insured on or after January...


Certificate of property condition. (a) The mortgagee shall either: (1) Certify that as of the date of the filing of deed for record, or assignment of the mortgage to...


Occupancy of property. The mortgagee shall certify that the property is vacant and contains no personal property as of the date of filing for record of the deed to...


Cancellation of hazard insurance. The mortgagee shall cancel any hazard insurance policy as of the date of the filing for record of the deed to the Commissioner subject...


Types of satisfactory title evidence. The following types of title evidence shall be satisfactory to the Commissioner: (a) Fee or owner's title policy. A fee or...


Coverage of title evidence. Evidence of title shall be executed as of a date to include the recordation of the deed to the Commissioner. The evidence of title shall show...


Acceptability of customary title evidence. If the title and title evidence are such as to be acceptable to prudent lending institutions and leading attorneys generally in...


Waived title objections. The Commissioner shall not object to title by reason of the following matters: [[Page 213]] (a) Violations of a...


Waiver of title--mortgages or property formerly held by the Secretary. (a) Mortgages sold by the Secretary. (1) If the Secretary sells a mortgage and such mortgage is...


Title objection waiver with reduced insurance benefits. Payment of an insurance claim will not automatically be refused solely because the title evidence reveals a condition...


Method of payment. If the application for insurance benefits is acceptable to the Commissioner payment of the insurance claim shall be made in cash, in debentures or in...


Amount of payment--conveyed and non-conveyed properties. (a) Conveyed properties. Where a claim for the insurance benefits is filed in accordance with this subpart, based...


Items included in payment--conveyed and non-conveyed properties. The insurance benefits paid in connection with foreclosed properties, whether or not conveyed to...


Reimbursement for uncollected interest. The mortgagee shall be entitled to receive an allowance in the insurance settlement for unpaid mortgage interest if the mortgagor...


Items deducted from payment--conveyed and non-conveyed properties. There shall be deducted from the total of the added items in Sec. Sec. 203.401 and 203.402 the following...


Amount of payment--assigned mortgages. Upon an acceptable assignment of a mortgage, the Commissioner shall pay to the mortgagee the unpaid principal balance of the loan at...


Debenture interest rate. Debentures shall bear interest from the date of issue, payable semiannually on the first day of January and the first day of July of each year at...


[Code of Federal Regulations] [Title 24, Volume 2] [Revised as of April 1, 2004] From the U.S. Government Printing Office via GPO Access [CITE: 24CFR203.406] [Page 220] TITLE 24--HOUSING AND URBAN DEVELOPMENT CHAPTER II--OFFICE OF ASSISTANT SECRETARY FOR HOUSING--FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT PART 203_SINGLE FAMILY MORTGAGE INSURANCE--Table of Contents Subpart B_Contract Rights and Obligations Sec. 203.406 Maturity of debentures. Debentures shall mature 20 years from the date of issue. ...


[Code of Federal Regulations] [Title 24, Volume 2] [Revised as of April 1, 2004] From the U.S. Government Printing Office via GPO Access [CITE: 24CFR203.407] [Page 220] TITLE 24--HOUSING AND URBAN DEVELOPMENT CHAPTER II--OFFICE OF ASSISTANT SECRETARY FOR HOUSING--FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT PART 203_SINGLE FAMILY MORTGAGE INSURANCE--Table of Contents Subpart B_Contract Rights and Obligations Sec. 203.407 Registration of debentures. Debentures shall be registered as to principal and interest. ...


Form and amounts of debentures. Debentures issued under this part shall be in such form and amounts; and shall be subject to such term and conditions; and shall include...


Redemption of debentures. Debentures shall, at the option of the Commissioner and with the approval of the Secretary of the Treasury, be redeemable at par plus...


Issue date of debentures. (a) Conveyed properties, claims without conveyance, pre-foreclosure sales-- Where the property is conveyed to the Commissioner, or the...


Cash adjustment. Any difference of less than $50 between the amount of debentures to be issued to the mortgagee and the total amount of the mortgagee's claim, as approved...


Payment for foreclosure alternative actions. Notwithstanding the conveyance, sale, or assignment requirements for payment of a claim elsewhere in this part, HUD may pay...


Amount of payment--partial claims. (a) Claim amount. Where a claim for partial insurance benefits is filed in accordance with Sec. 203.371, the amount of the...


Delivery of certificate of claim. (a) If the mortgage was accepted for insurance pursuant to a commitment issued prior to September 2, 1964, the mortgagee may, by filing...


Amount and items of certificate of claim. The certificate shall be for an amount which the Commissioner determines to be sufficient to pay all amounts due under the...


Rate of interest of certificate of claim. Each certificate of claim shall provide that there shall accrue to the holder thereof with respect to the face amount of...


Nature of Mutual Mortgage Insurance Fund. The Mutual Mortgage Insurance Fund shall consist of the General Surplus Account and the Participating...


Allocation of Mutual Mortgage Insurance Fund income or loss. For any semiannual period in which Mutual Mortgage Insurance operations shall result in a net income, or loss,...


Right and liability under Mutual Mortgage Insurance Fund. No mortgagor or mortgagee shall have any vested right in a credit balance in either the General Surplus Account or...


Distribution of distributive shares. (a) The Commissioner may provide for the distribution to the mortgagor of a share of the participating reserve account if the contract...


Maximum amount of distributive shares. In no event shall a distributive share of the Participating Reserve Account exceed the aggregate scheduled annual premiums of the...


Finality of determination. The determination of the Commissioner as to the amount to be paid to [[Page 223]] any mortgagor from the Mutual Mortgage Insurance...


Inapplicability to housing in older declining urban areas. The provisions of Sec. Sec. 203.420 through 203.425 shall not apply to mortgages financing housing in declining...


Statute of limitations on payment of distributive shares. The Commissioner shall not distribute any distributive share to an eligible mortgagor under Sec. 203.423 beginning on...


Sale of interests in insured mortgages. No mortgagee may sell or otherwise dispose of any insured mortgage, or group of insured mortgages, or any partial interest in such...


Sale of insured mortgage to approved mortgagee. An insured mortgage may be sold to another approved mortgagee. The seller shall notify HUD of the sale within 15 calendar days,...


Effect of sale of insured mortgage. When an insured mortgage is sold to another approved mortgagee, the buyer shall thereupon succeed to all the rights and become bound by...


Assignments, pledges and transfers by approved mortgagee. (a) An assignment, pledge, or transfer of an insured mortgage or group of insured mortgages, not constituting a...


Declaration of trust. A sale of a beneficial interest in a group of insured mortgages, where the interest to be acquired is related to all of the mortgages as an...


Transfers of partial interests. A partial interest in an insured mortgage may be transferred under a participation agreement without obtaining the approval of...


Claim procedure--graduated payment mortgages. All of the provisions of this subpart are applicable to mortgages insured under the provisions of Sec. 203.45 except as provided...


Mortgages involving a dwelling unit in a cooperative housing development. (a) The provisions of Sec. Sec. 203.251(d), 203.366 and 203.440 through 203.495 shall not...


Mortgages on Indian land insured pursuant to section 248 of the National Housing Act. (a) Exemptions. The provisions of Sec. 203.366 shall not apply to mortgages...


Mortgages on Hawaiian home lands insured pursuant to section 247 of the National Housing Act. (a) Exemptions. The provisions of Sec. Sec. 203.351(a)(8), 203.353(a),...


Mortgages on property in Allegany Reservation of Seneca Nation of Indians authorized by section 203(q) of the National Housing Act. (a) Applicability. This section shall...


Definitions. All of the definitions contained in Sec. 203.50 of this subchapter shall apply to Sec. Sec. 203.440 et seq. In addition the following terms shall have...


Insurance of loan. Under compliance with the commitment, or as provided in Sec. 203.255(b) with respect to mortgages processed under the Direct Endorsement program,...


Contract created by Insurance Certificate or by endorsement. The loan is insured from the date of the issuance of an Insurance Certificate or from the date of the endorsement...


Insurance premium. All of the provisions of Sec. Sec. 203.260 through 203.269 \1\ concerning mortgage insurance premiums, apply to loans insured under...


Voluntary termination of contract. Upon request by the borrower and lender the Commissioner may terminate the insurance contract on the loan. The lender shall cancel...


[Code of Federal Regulations] [Title 24, Volume 2] [Revised as of April 1, 2004] From the U.S. Government Printing Office via GPO Access [CITE: 24CFR203.458] [Page 227] TITLE 24--HOUSING AND URBAN DEVELOPMENT CHAPTER II--OFFICE OF ASSISTANT SECRETARY FOR HOUSING--FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT PART 203_SINGLE FAMILY MORTGAGE INSURANCE--Table of Contents Subpart B_Contract Rights and Obligations Sec. 203.458 Termination by prepayment of loan. The contract of insurance shall be terminated if the loan is paid in full prior to its maturity. ...


Notice of termination by lender. No contract of insurance shall be terminated until the lender has given written notice thereof to the Commissioner within 15 calendar...


Pro rata payment of premium before termination. No contract of insurance shall be terminated until the lender has paid to the Commissioner the pro rata portion of the...


Notice and date of termination by Commissioner. The Commissioner shall notify the lender that the contract of insurance has been terminated and the effective termination....


Effect of termination. Upon termination of the contract of insurance, the obligation to pay any subsequent insurance premium shall cease and all rights of the borrower...


Definition of default. If the borrower fails to make any payment, or to perform any other obligation under the loan and such failure continues for a period of 30 days,...


Date of default. For the purposes of Sec. Sec. 203.440 et seq. the date of default shall be considered as 30 days after-- (a) The first uncorrected failure to perform...


Notice of default. The lender shall, within 60 days after default as defined in Sec. Sec. 203.440 et seq., give written notice thereof to the Commissioner, unless...


Reinstatement of defaulted loan. If after default and prior to assignment by the lender of the loan to the Commissioner, the borrower shall pay to the lender all...


Special forbearance. If the mortgagee finds that a default is due to circumstances beyond the mortgagor's control, as defined by the Secretary, the mortgagee may...


Relief for borrower in military service. If the borrower is a person in military service, as defined in the Soldiers' and Sailors' Civil Relief Act of 1940, the lender may,...


Claim procedure. (a) A claim for insurance benefits on a loan secured by a first mortgage shall be made, and insurance benefits shall be paid, as provided in Sec....


Maximum claim period. A claim for insurance benefits on a loan secured by other than a first mortgage shall be filed within one year from the date of default, or within...


Claim application and items to be filed. The claim for reimbursement on a loan secured by other than a first mortgage shall be made upon an application form prescribed by...


Certificate by lender when loan assigned. At the time of the assignment of the loan, the lender shall certify to the Commissioner that: (a) The amount stated in...


Payment of insurance benefits. (a) Claim computation, items included. Upon acceptable assignment of the note and security instruments, the Commissioner shall pay the...


Debenture interest rate. Debentures shall bear interest from the date of issue, payable semiannually on the first day of January and the first day of July of each year at...


[Code of Federal Regulations] [Title 24, Volume 2] [Revised as of April 1, 2004] From the U.S. Government Printing Office via GPO Access [CITE: 24CFR203.481] [Page 229] TITLE 24--HOUSING AND URBAN DEVELOPMENT CHAPTER II--OFFICE OF ASSISTANT SECRETARY FOR HOUSING--FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT PART 203_SINGLE FAMILY MORTGAGE INSURANCE--Table of Contents Subpart B_Contract Rights and Obligations Sec. 203.481 Maturity of debentures. Debentures shall mature 10 years from the date of issue. [[Page 230]] ...


[Code of Federal Regulations] [Title 24, Volume 2] [Revised as of April 1, 2004] From the U.S. Government Printing Office via GPO Access [CITE: 24CFR203.482] [Page 230] TITLE 24--HOUSING AND URBAN DEVELOPMENT CHAPTER II--OFFICE OF ASSISTANT SECRETARY FOR HOUSING--FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT PART 203_SINGLE FAMILY MORTGAGE INSURANCE--Table of Contents Subpart B_Contract Rights and Obligations Sec. 203.482 Registration of debentures. Debentures shall be registered as to principal and interest. ...


Forms and amounts of debentures. Debentures issued under this part shall be in such form and amounts; and shall be subject to such terms and conditions; and shall...


Redemption of debentures. Debentures shall, at the option of the Commissioner and with the approval of the Secretary of the Treas ury, be redeemable at par plus...


Issue date of debentures. The debentures shall be issued as of the date of the execution of the assignment of the loan in accordance with the requirements of...


Cash adjustment. Any difference of less than $50 between the amount of debentures to be issued to the lender and the total amount of the lender's claim, as approved by...


Sale of interests in insured loans. No lender may sell or otherwise dispose of any insured loan or group of insured loans, or any partial interest in such loan or loans by...


Sale of insured loan to approved lender. An insured loan may be sold to another approved lender.The seller shall notify HUD of the sale within 15 calendar days, on a...


Effect of sale of insured loan. When an insured loan is sold to another approved lender, the buyer shall thereupon succeed to all the rights and become bound by all...


Assignments, pledges and transfers by approved lender. (a) An assignment, pledge or transfer of an insured loan or group of insured loans, not constituting a final sale,...


Declaration of trust. A sale of a beneficial interest in a group of insured loans, where the interest to be acquired is related to all of the loans as an entirety,...


Transfers of partial interests. A partial interest in an insured loan may be transferred under a participation agreement without obtaining the approval of the...


Actions to be taken by mortgagee or lender. With respect to any action required by the mortgagee or lender within a period of time prescribed by this subpart the Commissioner...


Effect of amendments. The regulations in this subpart may be amended by the Secretary at any time and from time to time, in whole or in part, but such amendment will...


generally. Source: 41 FR 49736, Nov. 10, 1976, unless otherwise noted. General Requirements This subpart...


Mortgagees must consider the comparative effects of their elective servicing actions, and must take those appropriate actions which can reasonably be...


servicing. (a) After January 10, 1994, servicing of insured mortgages must be performed by a mortgagee that is approved by HUD to service insured...


Providing information. (a) Mortgagees shall provide loan information to mortgagors and arrange for individual loan consultation on request. The mortgagee must...


Release of personal liability. (a) Procedures. The mortgagee shall release a selling mortgagor from any personal liability for payment of the mortgage debt, if release...


exceptions. (a) Policy of free assumability with no restrictions. A mortgagee shall not impose, agree to or enforce legal restrictions on conveyance,...


Escrow accounts. (a) It is the mortgagee's responsibility to make escrow disbursements before bills become delinquent. Mortgagees must establish controls to insure...


charges after endorsement. (a) The mortgagee may collect reasonable and customary fees and charges from the mortgagor after insurance endorsement only as...


late charges. (a) A mortgagee shall not commence foreclosure when the only default on the part of the mortgagor is the failure to pay a late charge or...


partial payments. (a) For the purpose of this section, a partial payment is a payment of any amount less than the full amount due under the terms of the mortgage...


Handling prepayments. (a) Notwithstanding the terms of the mortgage, the mortgagee may accept a prepayment at any time and in any amount. Except as set out below,...


action. Subject to the requirements of this subpart, mortgagees shall take prompt action to collect amounts due from mortgagors to minimize the number...


to mortgagor. The mortgagee shall give notice to each mortgagor in default on a form supplied by the Secretary or, if the mortgagee wishes to use its...


Contact with the mortgagor. (a) [Reserved] (b) The mortgagee must have a face-to-face interview with the mortgagor, or make a reasonable effort to arrange such a...


evaluation. No later than when three full monthly installments due on the mortgage are unpaid, the mortgagee shall evaluate all of the loss mitigation...


Pre-foreclosure review. (a) Before initiating foreclosure, the mortgagee must ensure that all servicing requirements of this subpart have been met. The mortgagee may...


The mortgagee shall permit reinstatement of a mortgage, even after the institution of foreclosure proceedings, if the mortgagor tenders in a lump sum all...


mortgagor in military service. The mortgagee shall specifically give consideration to affording the mortgagor the benefit of relief authorized by Sec. Sec. 203.345...


If the mortgagee finds that a default is due to circumstances beyond the mortgagor's control, as defined by HUD, the mortgagee may grant special...


The mortgagee may modify a mortgage for the purpose of changing the amortization provisions by recasting the total unpaid amount due for a term...


mortgages on property located on Indian land. Before a mortgagee requests that the Secretary accept assignment under Sec. 203.350(b) of a mortgage...


mortgages on property located on Hawaiian home lands. Before a mortgagee requests the Secretary to accept assignment under Sec. 203.350(c) of a...


Processing defaulted mortgages on property in Allegany Reservation of Seneca Nation of Indians. (a) Applicability. This section applies to mortgages authorized by...


occupied property. (a) It is HUD's policy to reduce the inventory of acquired properties in a manner that expands homeownership opportunities,...


determining the Secretary's interest. It is in the Secretary's interest to accept occupied conveyance when one or more of the following are met: (a) Occupancy...


(a) For the purposes of occupied conveyance considerations, a residential area is any area which constitutes a local economic market for the purchase and...


(a) For purposes of Sec. 203.670, a property is habitable if it meets the requirements of this section in its present condition, or will meet these...


Eligibility for continued occupancy. (a) Occupancy because of temporary, permanent, or long-term illness or injury of an individual residing in the property will be limited to...


occupants of pending acquisition. (a) At least 60 days, but not more than 90 days, before the date on which the mortgagee reasonably expects to acquire title to...


Request for continued occupancy. An occupant may request permission to continue to occupy the property following conveyance to the Secretary by notifying the HUD...


approve or deny a request. (a) The HUD Field Office will provide written notification of its decision to an occupant who makes a timely request to continue to...


vacant property. (a) HUD will require that the property be conveyed vacant if the occupant fails to request permission to continue to occupy within the time...


Continued occupancy after conveyance. (a) Occupancy of HUD-acquired property is temporary in all cases and is subject to termination when necessary to facilitate preparing...


occupancy after conveyance. When an occupied property is conveyed to HUD before HUD has had an opportunity to consider continued occupancy (e.g., where HUD has...


HUD Field Office Managers. Field Office Managers shall act for the Secretary in all matters relating to assignment and occupied conveyance determinations....


Effective December 29, 1994, of final rule the authority to coinsure mortgages under this part is terminated, except that the Department will honor...


Subpart A_General Sec. 206.1 Purpose. 206.3 Definitions. 206.7 Effect of amendments. 206.8 Preemption. ...


As used in this part, the following terms shall have the meaning indicated. Contract of insurance. (See 24 CFR 203.251(j)). Day means calendar...


amendments. The regulations in this part may be amended by the Secretary at any time and from time to time, in whole or in part, but amendments to subparts B and C...


(a) Lien priority. The full amount secured by the mortgage shall have the same priority over any other liens on the property as if the full amount had been disbursed...


Eligible mortgagees. (a) Statutory requirements. (See section 255(b)(3) of NHA). (b) HUD approved mortgagees. Any mortgagee authorized under paragraph (a) of...


Insurance. Mortgages originated under this part must be endorsed through the Direct Endorsement program under Sec. 203.5 of this chapter, or insured through the...


General. (a) Payment options. A mortgage shall initially provide for the tenure payment option (Sec. 206.19(a)), the term payment option (Sec. 206.19(b)), or the...


Payment options. (a) Term payment option. Under the term payment option, equal monthly payments are made by the mortgagee to the mortgagor for a fixed term of...


Interest rate. (a) Fixed interest rate. A fixed interest rate is agreed upon by the mortgagor and mortgagee. (b) Adjustable interest rate. An initial interest...


Shared appreciation. (a) Additional interest based on net appreciated value. Any mortgage for which the mortgagee has chosen the shared premium option (Sec....


Calculation of payments. (a) Initial payment. At closing an initial payment shall be made by the mortgagee in an amount equal to the sum of initial MIP under...


Change in payment option. (a) General. The payment option may be changed as provided in this section. (b) Change due to initial repairs. (1) If initial repairs...


Mortgage provisions. (a) Form. The mortgage shall be in a form meeting the requirements of the Secretary. (b) Provisions. The mortgage shall explain how...


Initial disbursement of mortgage proceeds. Mortgage proceeds may not be disbursed at the initial disbursement or after closing (upon expiration of the 3-day...


Allowable charges and fees. (a) Fees at closing. The mortgagee may collect, either in cash at the time of closing or through an initial payment under the mortgage,...


Allowable charges and fees. (a) Fees at closing. The mortgagee may collect, either in cash at the time of closing or through an initial payment under the mortgage,...


No outstanding unpaid obligations. In order for a mortgage to be eligible under this part, a mortgagor must establish to the satisfaction of the mortgagee that: ...


Age of mortgagor. The youngest mortgagor shall be 62 years of age or older at the time the mortgagee submits the application for insurance. [61 FR 49033, Sept....


Title held by mortgagor. The mortgagor shall hold title to the entire property which is the security for the mortgage. If there are...


[Code of Federal Regulations] [Title 24, Volume 2] [Revised as of April 1, 2004] From the U.S. Government Printing Office via GPO Access [CITE: 24CFR206.37] [Page 254] TITLE 24--HOUSING AND URBAN DEVELOPMENT CHAPTER II--OFFICE OF ASSISTANT SECRETARY FOR HOUSING--FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT PART 206_HOME EQUITY CONVERSION MORTGAGE INSURANCE--Table of Contents Subpart B_Eligibility; Endorsement Sec. 206.37 Credit standing. Each mortgagor must have a general credit standing satisfactory to the Secretary. ...


Principal residence. The property must be the principal residence of each mortgagor at closing. For purposes of this section, the property will be considered to be...


Disclosure and verification of Social Security and Employer Identification Numbers. The mortgagor must meet the requirements for the disclosure and verification of...


Counseling. (a) List provided. At the time of the initial contact with the prospective mortgagor, the mortgagee shall give the mortgagor a list of the names and...


Information to mortgagor. (a) Disclosure of costs of obtaining mortgage. The mortgagee must ensure that the mortgagor has received full disclosure of all costs...


Eligible properties. (a) Title. A mortgage must be on real estate held in fee simple, or on a leasehold under a lease for not less than 99 years which is renewable,...


Property standards; repair work. (a) Need for repairs. Properties must meet the applicable property standards of the Secretary in order to be eligible. Properties which...


Eligibility of mortgages involving a dwelling unit in a condominium. If the mortgage involves a dwelling unit in a condominium, the project in which the unit...


Refinancings. (a) General. This section implements section 255(k) of NHA. Except as otherwise provided in this section, all requirements applicable to the insurance...


Sale, assignment and pledge of insured mortgages. Sale, Assignment and Pledge The provisions of Sec. Sec. 203.430 through 203.435 of...


General Insurance Fund. Mortgages insured under this part shall be obligations of the General Insurance Fund. [60 FR 42761, Aug. 16, 1995] ...


Payment of MIP. The payment of any MIP under this subpart shall be made to the Secretary by the mortgagee in cash, until the contract of insurance...


Amount of MIP. (a) Initial MIP. The mortgagee shall pay to the Secretary an initial MIP of two percent of the maximum claim amount. (b) Monthly MIP. Monthly...


Mortgagee election of assignment or shared premium option. (a) Election of option. Before the mortgage is submitted for insurance endorsement, the mortgagee shall...


Amount of mortgagee share of premium. Using the factors provided by the Secretary, the amount of the mortgagee share of the premium shall be determined for each...


Due date of MIP. (a) Initial MIP. The mortgagee shall pay the initial MIP to the Secretary within fifteen days of closing and as a condition to the endorsement...


Late charge and interest. (a) Late charge. Initial MIP remitted to the Secretary after the payment [[Page 258]] date in Sec. 206.111(a) and...


Refunds. No amount of the initial MIP shall be refundable. [60 FR 42761, Aug. 16, 1995] HUD Responsibility...


General. The Secretary is required by statute to take any action necessary to provide a mortgagor with funds to which the mortgagor is entitled under the...


Secretary authorized to make payments. (a) Investigation. The Secretary will investigate all complaints by a mortgagor concerning late payments. If the...


Claim procedures in general. (a) Claims. Mortgagees may submit claims for the payment of the mortgage insurance benefits if: (1) The conditions of...


Acquisition and sale of the property. (a) Initial action by the mortgagee. (1) The mortgagee shall notify the Secretary whenever the mortgage is due and payable...


Application for insurance benefits. (a) Mortgagee acquires title. (1) The mortgagee shall apply for the payment of the insurance benefits within 15 days after the sale...


Payment of claim. (a) General. If the claim for the payment of the insurance benefits is acceptable to the Secretary, payment shall be made in cash in the...


Contract rights and obligations for mortgages on individual dwelling units in a condominium. (a) Additional requirements. The requirements of this subpart shall...


Termination of insurance contract. (a) Payment of the mortgage. The contract of insurance shall be terminated if the mortgage is paid in...


Mortgage servicing generally; sanctions. (a) General. This subpart identifies servicing practices that the Secretary considers acceptable mortgage servicing...


Providing information. (a) Annual statement. The mortgagee shall provide to the mortgagor an annual statement regarding the activity of the mortgage for...


Property charges. (a) General. The mortgagor shall pay all property charges consisting of taxes, ground rents, flood and hazard insurance premiums, and...


Allowable charges and fees after endorsement. (a) Reasonable and customary charges. The mortgagee may collect reasonable and customary charges and fees from the...


Prepayment. (a) No charge or penalty. The mortgagor may prepay a mortgage in full or in part without charge or penalty at any time, regardless of any limitations...


Annual determination of principal residence. At least once during each calendar year, the mortgagee shall determine whether or not the property is the...


requirements. Subpart A_Eligibility Requirements Sec. 207.1 Eligibility requirements. Subpart...


Definitions. As used in this subpart: (a) The term Commissioner means the Federal Housing Commissioner. (b) The term act means the National Housing...


First, second and third premiums. The mortgagee, upon the initial endorsement of the mortgage for insurance, shall pay to the Commissioner a first mortgage...


Premiums--operating loss loans. (a) The mortgagee, upon the insurance endorsement of the increase loan credit instrument covering the operating loss loan, shall pay...


Premiums--mortgages insured pursuant to section 223(f) of the Act. (a) The mortgagee, upon the initial-final endorsement of the mortgage for insurance pursuant to...


Premiums--mortgages insured pursuant to section 238(c) of the Act. All of the provisions of Sec. Sec. 207.252 and 207.252a governing mortgage insurance premiums...


Mortgagee's late charge. Mortgage insurance premiums which are paid to the Commissioner more than 15 days after the billing date or due date, whichever is...


Method of payment of mortgage insurance premiums. In the cases that the Commissioner deems appropriate, the Commissioner may require, by means of instructions...


Termination by prepayment and voluntary termination. All rights under the insurance contract and all obligations to pay future insurance premiums shall terminate on...


Termination of insurance contract. (a) Reason for termination. The happening of any of the following events shall constitute an additional reason for terminating...


Changes in premiums; manner of publication. Notice of future premium changes will be published in the Federal Register. The Department will propose MIP changes...


Defaults. (a) The following shall be considered a default under the terms of a mortgage insured under this subpart: (1) Failure of the mortgagor to make any...


Notice. (a) If the default as defined in Sec. 207.255 is not cured within the 30 days grace period, the mortgagee must, within 30 days thereafter, notify...


Reinstatement of defaulted mortgage. If, after default and prior to the completion of foreclosure proceedings, the mortgagor cures the default, the insurance...


Modification of mortgage terms. (a) The mortgagor and the mortgagee may, with the approval of the Commissioner, enter into an agreement which extends the time for...


Commissioner's right to require acceleration. Upon receipt of notice of violation of a convenant, as provided for in Sec. 207.256(b), or otherwise being appraised...


Insurance claim requirements. (a) Alternative election by mortgagee. When the mortgagee becomes eligible to receive mortgage insurance benefits pursuant to...


Title requirements. (a) Form of title evidence. The title evidence submitted with a conveyance of the property to the Commissioner shall be in the form of an...


Partial payment of claim. (a) Whenever the Commissioner receives notice under Sec. 207.258 of a mortgagee's intention to file an insurance claim and to assign...


Insurance benefits. (a) Method of payment. Upon either an assignment of the mortgage to the Commissioner or a conveyance of the property to him in accordance...


Waiver of title objection; mortgages formerly Commissioner-held. If the Commissioner sells a mortgage and such mortgage is later reassigned to him in exchange...


Maintenance and inspection of property. As long as the mortgage is insured or held by the Commissioner, the mortgagor must maintain the insured project in accordance...


Responsibility for servicing. After January 10, 1994, servicing of insured mortgages must be performed by a mortgagee which is approved by HUD to service...


Effect of amendments. The regulations in this subpart may be amended by the Commissioner at any time and from time to time, in whole or in part, but such...


FOR MULTIFAMILY SUBSIDIZED PROJECTS--Table of Contents Sec. 208.101 Purpose. 208.104 Applicability. 208.108...


multifamily projects, either insured or non-insured, under: (1) The section 236 Interest Reduction and Rental Assistance Payments program; (2)...


that are automated. Project owners of applicable projects under Sec. 208.104(a) who currently use an automated software package to process certifications...


the correctly formatted data, including either the purchase and maintenance of computer hardware or software, or both, the cost of contracting for those services, or...


Eligibility requirements. Subpart A_Eligibility Requirements_Projects Sec. 213.1 Eligibility requirements. ...


Cross-reference. (a) All of the provisions of subpart B, part 207 of this chapter covering mortgages insured under section 207 of the National Housing...


Definitions. The definitions contained in Sec. 213.1 shall apply to this subpart and in addition the following terms shall have the meaning indicated. ...


Premiums upon initial endorsement. (a) Management and Sales Types and Investor Sponsored Projects. The mortgagee, upon the initial endorsement of the mortgage...


Premiums where first principal payment more than one year after initial endorsement. (a) Management and Sales Types and Investor Sponsored Projects. (1) If the...


Premiums where first principal payment one year or less after initial endorsement. (a) Management and Sales Types and Investor Sponsored Projects. (1) If...


Premiums; insurance upon completion. (a) Management and Sales Types and Investor Sponsored Projects. (1) Where the mortgage is initially and finally endorsed...


Premiums; purchasing cooperatives; Existing Construction; supplementary loans to purchase existing community facility. (a) Where a mortgage is endorsed for...


Subsequent annual premiums. (a) Until the mortgage is paid in full or until receipt by the Commissioner of an application for insurance benefits, or until...


Computation of subsequent annual premiums. The premiums payable on and after the date of the first principal payment shall be calculated in accordance with...


Premiums--mortgages insured pursuant to section 238(c) of the Act. All of the provisions of Sec. Sec. 213.253 through 213.259 governing mortgage...


Allowable methods of premium payment. Premiums shall be payable in cash or in debentures at par plus accrued interest. All premiums are payable in advance and no...


Modifications and consolidations. Where a mortgage covering an investor sponsored project is modified and consolidated with the mortgage of a purchasing...


Initial insurance endorsement. The Commissioner shall indicate his insurance of the mortgage or supplementary loan by endorsing the original credit instrument...


Insurance fund obligations. A mortgage endorsed for insurance under section 213 of the Act shall be the obligation either of the Cooperative Management...


Effect of insurance endorsement. From the date of initial endorsement, the Commissioner and the mortgagee or lender shall be bound by the provisions of this...


Final insurance endorsement. When all advances of mortgage or loan proceeds have been made and all the terms and conditions of the commitment have been complied...


[Code of Federal Regulations] [Title 24, Volume 2] [Revised as of April 1, 2004] From the U.S. Government Printing Office via GPO Access [CITE: 24CFR213.269] [Page 285] TITLE 24--HOUSING AND URBAN DEVELOPMENT CHAPTER II--OFFICE OF ASSISTANT SECRETARY FOR HOUSING--FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT PART 213_COOPERATIVE HOUSING MORTGAGE INSURANCE--Table of Contents Subpart B_Contract Rights and Obligations_Projects Sec. 213.269 Endorsement of supplementary loans. The provisions of Sec. Sec. 213.266, 213.267, and 213.268 shall apply to supplementary loans. ...


Supplementary loans; election of action; claims; debentures. (a) Election of action. Where a real estate mortgage, deed of trust, conditional sales contract,...


Nature of the Cooperative Management Housing Insurance Fund. The Cooperative Management Housing Insurance Fund shall consist of the General Surplus Account and...


Allocation of Cooperative Management Housing Insurance Fund income or losses. For any semiannual period in which Cooperative Management Housing Insurance...


Right and liability under the Cooperative Management Housing Insurance Fund. No mortgagor or mortgagee shall have any vested right in a credit balance in either...


Distribution of distributive share. When the contract of insurance is terminated by reason of payment in full of the mortgage or by voluntary termination approved by...


Maximum amount of distributive share. In no event shall a distributive share of the Participating Reserve Account exceed the aggregate paid scheduled annual premiums...


Finality of determination. The determination of the Commissioner as to the amount to be paid to any mortgagor from the Cooperative Management Housing Insurance...


Program Sec. 213.501 Savings clause. No new loans are being insured under the Cooperative Housing Mortgage Insurance Program...


operations. 219.2 Savings provision. Authority: 12 U.S.C. 1715z-1a; 42 U.S.C. 3535(d). Source: 61 FR 14405, Apr. 1, 1996, unless...


before May 1, 1996, (contained in the April 1, 1995 edition of 24 CFR, parts 200 to 219) will continue to govern the rights and obligations of housing owners, tenants,...


Subpart B_Contract Rights and Obligations_Homes Sec. 220.251 Cross-reference. Subpart A [Reserved] Subpart B_Contract Rights...


Subpart B_Contract Rights and Obligations_Homes Sec. 220.252 Forbearance of foreclosure and assignment of mortgage. All of the provisions of Sec. Sec. 203.340...


Subpart B_Contract Rights and Obligations_Homes Sec. 220.253 Substitute mortgagors. (a) Selling mortgagor. The mortgagee may effect the release of a mortgagor...


Subpart B_Contract Rights and Obligations_Homes Sec. 220.275 Method of paying insurance benefits. If the application for insurance benefits is acceptable to...


Subpart B_Contract Rights and Obligations_Homes Sec. 220.350 Cross-reference. (a) All of the provisions of Sec. Sec. 203.440 through 203.495 of this...


Subpart C_Eligibility Requirements_Projects Sec. 220.501 Eligibility requirements. The requirements set forth in 24 CFR part 200, subpart A, apply...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.751 Cross-reference. Project Mortgage Insurance (a) All of the...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.753 Forbearance relief. (a) In a case where the mortgage is in default, the mortgagor and the...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.760 Payment of insurance benefits. All of the provisions of Sec. 207.259 of this chapter relating...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.765 Special insurance benefits--forbearance relief cases. (a) Upon a failure of the mortgagor to meet...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.800 Definitions. All of the definitions contained in Sec. 220.550 shall apply to Sec. Sec. 220.800...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.801 Initial insurance endorsement. The Commissioner shall indicate his insurance of the loan by...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.802 Final insurance endorsement. When all advances of loan proceeds have been made, and all the terms...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.803 Effect of insurance endorsement. From the date of initial endorsement, the Commissioner and...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.804 Insurance premiums. (a) First premium. The lender, upon the initial endorsement of the loan...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.804a Mortgagee's late charge. Mortgage insurance premiums which are paid to the Commissioner more...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.805 Termination of insurance. (a) Prepayment in full. The contract of insurance shall be terminated...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.806 Pro rata refund of insurance premium. Upon termination of loan insurance contract by a payment in full...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.810 Definition of default. (a) If the borrower fails to make any payments due under or provided to...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.811 Date of default. For the purposes of Sec. Sec. 220.800 et seq., the date of default shall...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.812 Notice of default. (a) If the default as defined in Sec. 220.810 is not cured within the 30 day...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.813 Commissioner's right to require acceleration. Upon receipt of notice of the failure of the borrower...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.814 Election of action. Where a real estate mortgage, deed of trust, conditional sales contract,...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.820 Maximum claim period. Notice of intention to file claim on a form prescribed by the...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.821 Items to be filed on submitting claim. Within 30 days after the filing of the notice of intention to...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.822 Claim computation; items included. (a) Assignment of loan. Upon an acceptable assignment of the...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.823 Claim computation; items deducted. If the lender is to receive payment in cash, there shall be...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.830 Debenture interest rate. Debentures shall bear interest from the date of issue, payable...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.832 Maturity of debentures. Debentures shall mature 10 years from the date...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.834 Registration of debentures. Debentures shall be registered as to principal...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.836 Form and amounts of debentures. Debentures issued under subpart D of this part shall be in such...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.838 Redemption of debentures. Debentures shall, at the option of the Commissioner and with the...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.840 Issue date of debentures. The debentures shall be issued as of the date of the execution of...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.842 Cash adjustment. Any difference of less than $50 between the amount of debentures to be issued to...


Subpart D_Contract Rights and Obligations_Projects Sec. 220.850 Assignment of insured loans. (a) An insured loan may not be transferred or pledged prior to...


Subpart E_Servicing Responsibilities_Homes Sec. 220.900 Cross-reference. All of the provisions of subpart C, part 203 of the chapter concerning...


Homes_Savings Clause Sec. 221.1 Savings clause. Subpart A_Eligibility Requirements_Low Cost Homes_Savings Clause Sec. 221.1...


Homes Sec. 221.251 Cross-reference. (a) All of the provisions of subpart B, part 203 of this chapter covering mortgages insured under section...


Homes Sec. 221.252 Substitute mortgagors. (a) Selling mortgagor. The mortgagee may effect the release of a mortgagor from personal liability on the...


Homes Sec. 221.254 Mortgage insurance premiums. (a) All of the provisions of Sec. Sec. 203.260 through 203.295 of this chapter relating to...


Homes Sec. 221.255 Assignment option. (a) A mortgagee holding a mortgage insured pursuant to a conditional or firm commitment issued on or before...


Homes Sec. 221.256 Interest rate increase and payment of mortgage insurance premiums on mortgages under Sec. 221.60 and Sec. 221.65. (a) Where a...


Homes Sec. 221.275 Method of paying insurance benefits. If the application for insurance benefits is acceptable to the Commissioner, all of the...


Homes Sec. 221.280 Waived title objections. (a) General provisions. All of the provisions of Sec. 203.389 of this chapter (relating to the waiver by...


Homes Sec. 221.300 Changes in the plan of apartment ownership. The mortgagee shall notify the Commissioner of any changes in the plan of apartment...


Homes Sec. 221.305 Condition of the multifamily structure. (a) When a family unit is conveyed or a mortgage is assigned to the Commissioner, the family...


Homes Sec. 221.310 Assessment of taxes. When a family unit is conveyed to the Commissioner or a mortgage is assigned to the Commissioner, the unit shall...


Homes Sec. 221.315 Certificate of tax assessment. The mortgagee shall certify, as of the date of filing for record of the deed or assignment of the...


Homes Sec. 221.320 Certificate or statement of condition. (a) At the time of the assignment of the mortgage or conveyance of the property to...


Homes Sec. 221.325 Cancellation of hazard insurance. The provisions of Sec. 203.382 of this chapter are incorporated by reference and shall apply to...


Projects Sec. 221.501 Eligibility requirements. The requirements set forth in 24 CFR part 200, subpart A, apply to multifamily project mortgages...


Projects Sec. 221.751 Cross-reference. (a) All of the provisions of subpart B, part 207 of this chapter, covering mortgages insured under section...


Projects Sec. 221.753 Termination of mortgage insurance. In addition to the provisions of Sec. 207.253a, the following requirements apply to...


Projects Sec. 221.755 Premiums first, second, third and operating loss loans. All of the provisions of Sec. Sec. 207.252 and 207.252a of this...


Projects Sec. 221.761 Forbearance relief. (a) In a case where the mortgage is in default, the mortgagor and the mortgagee may enter into a...


Projects Sec. 221.762 Payment of insurance benefits. All of the provisions of Sec. 207.259 of this chapter relating to insurance benefits apply...


Projects Sec. 221.763 Special insurance benefits--forbearance relief cases. (a) In the case of a mortgage that provides for payment of interest at...


Projects Sec. 221.770 Assignment option. A mortgagee holding a conditional or firm commitment issued on or before November 30, 1983 (or, in the...


Projects Sec. 221.775 Option period. The mortgagee may exercise its option to assign within one year following the twentieth anniversary of the date...


Projects Sec. 221.780 Issuance of debentures. Upon the exercise of the assignment option and the satisfactory performance of the requirements as...


Projects Sec. 221.785 Date of maturity of debentures. The debentures issues pursuant to the exercise of an assignment option shall be dated as of the...


Projects Sec. 221.790 Debenture interest rate. The debentures issued pursuant to the exercise of an assignment option shall bear interest at the...


Projects Sec. 221.795 Displacement--below market interest rate mortgages. (a) Minimizing displacement. Consistent with the other goals and...


Homes Sec. 221.800 Cross-reference. All of the provisions of subpart C, part 203 of the chapter concerning the responsibilities of servicers of...


Eligibility requirements. Subpart A_Eligibility Requirements Sec. 231.1 Eligibility requirements. [[Page 307]] ...


Cross-reference. (a) All of the provisions of part 207, subpart B of this chapter covering mortgages insured under section 207 of the National Housing...


Subpart A_Eligibility Requirements Sec. 232.1 Eligibility requirements. Subpart...


Subpart A_Eligibility Requirements Sec. 232.2 License. The Commissioner shall not insure any mortgage under this part unless the facility...


Subpart A_Eligibility Requirements Sec. 232.3 Bathroom. Not less than one full bathroom must be provided for every four residents of a...


Subpart B_Contract Rights and Obligations Sec. 232.251 Cross-reference. (a) All of the provisions, except Sec. 207.258b, of part...


Subpart B_Contract Rights and Obligations Sec. 232.252 Definitions. All of the definitions contained in Sec. 232.1 shall apply to...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.500...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.505 Application...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.510 Commitment and...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.515 Refund of fees. ...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.520 Maximum fees...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.522 Inspection fee. ...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.525 Note and...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.530 Disbursement...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.535 Loan...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.540 Method of loan payment...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.545 Covenant...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.550 Accumulation of...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.555 Security...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.560 Interest rate. ...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.565 Maximum...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.570 Endorsement of...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.580 Application...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.585 Prepayment privilege...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.586 Minimum principal...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.590 Eligibility...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.591 Smoke...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.595 Eligibility...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.600 Title evidence. ...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.605...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.610 Certification of...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.615...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.616 Disclosure...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.620 Determination...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.625...


Subpart C_Eligibility Requirements_Supplemental Loans to Finance Purchase and Installation of Fire Safety Equipment Sec. 232.630 Assurance...


Subpart D_Contract Rights and Obligations Sec. 232.800 Definitions. Source: 39 FR 28970, Aug. 12, 1974, unless otherwise...


Subpart D_Contract Rights and Obligations Sec. 232.805 Insurance premiums. (a) First premium. The lender, upon the endorsement of the loan...


Subpart D_Contract Rights and Obligations Sec. 232.805a Mortgagee's late charge. Mortgage insurance premiums which are paid to the...


Subpart D_Contract Rights and Obligations Sec. 232.815 Termination of insurance. (a) Prepayment in full. The contract of insurance shall...


Subpart D_Contract Rights and Obligations Sec. 232.825 Pro rata refund of insurance premium. Upon termination of a loan insurance contract...


Subpart D_Contract Rights and Obligations Sec. 232.830 Definition of default. (a) If the borrower fails to make any payments due under or...


Subpart D_Contract Rights and Obligations Sec. 232.840 Date of default. In computing loan insurance benefits, the date of default shall...


Subpart D_Contract Rights and Obligations Sec. 232.850 Notice of default. (a) If the default is not cured within the 30 day grace period,...


Subpart D_Contract Rights and Obligations Sec. 232.860 Commissioner's right to require acceleration. Upon receipt of notice of the failure of...


Subpart D_Contract Rights and Obligations Sec. 232.865 Election by lender. Where a real estate mortgage, or other security instrument has...


Subpart D_Contract Rights and Obligations Sec. 232.875 Maximum claim period. Notice of intention to file claim on a form prescribed by...


Subpart D_Contract Rights and Obligations Sec. 232.880 Items to be delivered on submitting claim. Within 30 days after the filing of...


Subpart D_Contract Rights and Obligations Sec. 232.885 Insurance benefits. (a) Method of payment. Payment of claim shall be made in...


Subpart D_Contract Rights and Obligations Sec. 232.890 Characteristics of debentures. Debentures issued in settlement of insurance claims...


Subpart D_Contract Rights and Obligations Sec. 232.893 Cash adjustment. Any difference of less than $50 between the amount of debentures...


Subpart D_Contract Rights and Obligations Sec. 232.895 Assignment of insured loans. (a) An insured loan may be transferred only to a...


Subpart D_Contract Rights and Obligations Sec. 232.897 Actions to be taken by lender. With respect to any action required of the lender within...


Subpart E_Insurance of Mortgages Covering Existing Projects Sec. 232.901 Mortgages covering existing projects are eligible for insurance. Source: 53...


Subpart E_Insurance of Mortgages Covering Existing Projects Sec. 232.902 Eligible project. Existing projects (with such repairs and improvements as...


Subpart E_Insurance of Mortgages Covering Existing Projects Sec. 232.903 Maximum mortgage limitations. Notwithstanding the maximum mortgage...


Subpart E_Insurance of Mortgages Covering Existing Projects Sec. 232.904 Term of the mortgage. Notwithstanding the provisions of Sec. 232.27,...


Subpart E_Insurance of Mortgages Covering Existing Projects Sec. 232.905 Labor standards and prevailing wage requirements. The provisions of Sec....


Subpart E_Insurance of Mortgages Covering Existing Projects Sec. 232.906 Processing of applications and required fees. (a) Processing of applications....


234.1 Cross-reference. Subpart A_Eligibility Requirements_Individually Owned Units Sec. 234.1...


234.3 Definitions. The terms Act, Beginning of amortization, Commissioner, FHA, Insured Mortgage, Mortgage, Mortgagee, Mortgagor, and State, as used in this...


Mortgagor and mortgagee requirements for maintaining flood insurance coverage. The maintenance of flood insurance coverage on the project by the...


234.26 Project requirements. No mortgage shall be eligible for insurance unless the following requirements are met: (a) Location of family unit. The...


Eligibility of assigned mortgages and mortgages covering acquired property. The Commissioner may insure under this part, without regard to any limitation...


Location of property. The mortgage, to be eligible for insurance, shall be on property located in a State, as defined in Sec. 203.251 of this chapter, and...


Nature of title. A mortgage, to be eligible for insurance, shall be on a fee interest in, or on a leasehold interest in, a one-family unit in a...


Free assumability; exceptions. For purposes of HUD's policy of free assumability with no restrictions, as provided in Sec. 203.41 of this chapter,...


234.251 Definitions. The definitions in Sec. 203.251 of this chapter apply to this subpart. [61 FR 60163, Nov....


234.255 Cross-reference. (a) Provisions. All of the provisions of Sec. Sec. 203.251 through 203.436 of this chapter (part 203, subpart B) covering...


234.256 Substitute mortgagors. (a) Selling mortgagor. The requirements for the selling mortgagor are set forth in Sec. 203.258(a) of this chapter. ...


234.259 Claim procedure--graduated payment mortgages. Section 203.436 of this chapter applies to mortgages under this subpart. [61 FR 60163, Nov....


234.260 Assignment of mortgage and certificate by mortgagee. In addition to the requirements of Sec. Sec. 203.350 through 203.353 incorporated by reference,...


234.262 Exception to deed in lieu of foreclosure. All of the provisions of Sec. 203.357 of this chapter relating to acceptance of a deed in lieu of foreclosure...


234.265 Contents of deed and supporting documents. In addition to the requirements of Sec. 203.367, incorporated by reference, the deed shall comply with the plan...


234.270 Condition of the multifamily structure. (a) When a family unit is conveyed or a mortgage is assigned to the Commissioner, the family unit and the...


234.273 Assessment of taxes. When a family unit is conveyed to the Commissioner or a mortgage is assigned to the Commissioner, the unit shall be assessed and...


234.274 Certificate of tax assessment. The mortgagee shall certify, as of the date of filing for record of the deed or assignment of the mortgage to the...


234.275 Certificate or statement of condition. The mortgagee shall either certify that as of the date of the filing of deed for record, or assignment of...


234.280 Cancellation of hazard insurance. The provisions of Sec. 203.382 incorporated by reference shall apply to hazard insurance policies carried solely for...


234.285 Waived title objections. The Commissioner shall not object to title by reason of the following matters: (a) Violations of a restriction based on...


Units Sec. 234.501 Eligibility requirements. The requirements set forth in 24 CFR part 200, subpart A, apply to...


Cross-reference. (a) All of the provisions, except Sec. 207.258(b) of subpart B of this chapter, covering mortgages insured under section 207 of the...


234.800 Cross-reference. All of the provisions of subpart C, part 203 of this chapter covering mortgages insured under section 203 of...


for Lower Income Families Sec. 235.1 Applicability of regulations. Subpart A_Eligibility Requirements_Homes for Lower...


and Obligations_Homes for Lower Income Families Sec. 235.201 Cross-reference. Source: 41 FR 1176, Jan. 6, 1976,...


and Obligations_Homes for Lower Income Families Sec. 235.202 Amount of initial MIP. (a) With respect to mortgages approved...


and Obligations_Homes for Lower Income Families Sec. 235.204 Amount of annual MIP. (a) With respect to mortgages...


and Obligations_Homes for Lower Income Families Sec. 235.205 Deed in lieu of foreclosure. All of the provisions of Sec....


and Obligations_Homes for Lower Income Families Sec. 235.206 Substitute mortgagors. (a) Selling mortgagor. The mortgagee...


and Obligations_Homes for Lower Income Families Sec. 235.215 Method of paying insurance benefits. If the application...


and Obligations_Homes for Lower Income Families Sec. 235.220 Condition of property. All of the provisions of Sec....


and Obligations_Homes for Lower Income Families Sec. 235.221 Waived title objections. (a) General provisions. All of...


and Obligations_Homes for Lower Income Families Sec. 235.225 Changes in plan of apartment ownership. The mortgagee shall...


and Obligations_Homes for Lower Income Families Sec. 235.230 Condition of multifamily structure. (a) When a family unit...


and Obligations_Homes for Lower Income Families Sec. 235.235 Certificate or statement of condition. The mortgagee shall...


and Obligations_Homes for Lower Income Families Sec. 235.240 Assessment of taxes. When a family unit is conveyed to...


and Obligations_Homes for Lower Income Families Sec. 235.245 Certificate of tax assessment. The mortgagee shall certify, as...


and Obligations_Homes for Lower Income Families Sec. 235.250 Cancellation of property insurance. The provisions of...


for Lower Income Families Sec. 235.301 Definitions. Source: 41 FR 1178, Jan. 6, 1976, unless otherwise noted. The...


for Lower Income Families Sec. 235.305 Contract for assistance payments. This subpart shall constitute the contract between the mortgagee and...


for Lower Income Families Sec. 235.310 Execution of assistance payment contract. (a) Homeowners. The issuance of a mortgage insurance...


for Lower Income Families Sec. 235.315 Qualified homeowners. To qualify for assistance payments, the homeowner's income at the time of...


for Lower Income Families Sec. 235.320 Limitation of sales price. To qualify for assistance payments, the homeowner shall not have paid...


for Lower Income Families Sec. 235.325 Qualified cooperative members. The following cooperative members shall qualify for assistance...


for Lower Income Families Sec. 235.330 Cooperative unit eligible for assistance payments. (a) With respect to mortgages insured pursuant to...


for Lower Income Families Sec. 235.331 Increased maximum mortgage amount for physically handicapped persons. If the mortgage relates to a...


for Lower Income Families Sec. 235.335 Assistance payments and handling charges. (a) The assistance payment on behalf of a mortgagor shall be...


for Lower Income Families Sec. 235.340 Time of payments. The assistance payment shall be due on the first day of each month and shall be paid...


for Lower Income Families Sec. 235.345 Term of assistance contract. (a) Homeowners. The term of the assistance payment contract shall begin on...


for Lower Income Families Sec. 235.350 Mortgagor's required recertification. (a) The mortgagee shall obtain from the homeowner (or from...


for Lower Income Families Sec. 235.355 Mortgagor's optional recertification. Upon request of the mortgagor or cooperative member, the...


for Lower Income Families Sec. 235.360 Adjustment in assistance payments. The mortgagee shall make appropriate adjustments in the amount of...


for Lower Income Families Sec. 235.361 Recovery of assistance payments. (a) The mortgagee shall refund to the Secretary all overpaid...


for Lower Income Families Sec. 235.365 Mortgagee records. The mortgagee shall maintain such records as the Secretary...


for Lower Income Families Sec. 235.370 Effect of assignment of mortgage with an assistance payment contract. Where a mortgage covered by...


for Lower Income Families Sec. 235.375 Termination, suspension, or reinstatement of the assistance payments contract. (a) Termination....


for Lower Income Families Sec. 235.499 Effect of amendments. The regulations in this subpart may be amended by the Secretary at any time and...


Sales Projects Sec. 235.501 Applicability of regulations. The regulations regarding eligibility requirements, contract rights and...


for Lower Income Families Sec. 235.1000 Cross-reference. All of the provisions of subpart C, part 203 of this chapter covering...


for Lower Income Families Sec. 235.1001 Providing information. The statement of interest paid and taxes disbursed furnished by the mortgagee...


Contract Rights and Obligations; Assistance Payments Contracts; Servicing Responsibilities_Refinancing Mortgages Under Section 235(r) of the National...


Contract Rights and Obligations; Assistance Payments Contracts; Servicing Responsibilities_Refinancing Mortgages Under Section 235(r) of the National...


Contract Rights and Obligations; Assistance Payments Contracts; Servicing Responsibilities_Refinancing Mortgages Under Section 235(r) of the National...


Contract Rights and Obligations; Assistance Payments Contracts; Servicing Responsibilities_Refinancing Mortgages Under Section 235(r) of the National...


Contract Rights and Obligations; Assistance Payments Contracts; Servicing Responsibilities_Refinancing Mortgages Under Section 235(r) of the National...


Contract Rights and Obligations; Assistance Payments Contracts; Servicing Responsibilities_Refinancing Mortgages Under Section 235(r) of the National...


Contract Rights and Obligations; Assistance Payments Contracts; Servicing Responsibilities_Refinancing Mortgages Under Section 235(r) of the National...


Contract Rights and Obligations; Assistance Payments Contracts; Servicing Responsibilities_Refinancing Mortgages Under Section 235(r) of the National...


Contract Rights and Obligations; Assistance Payments Contracts; Servicing Responsibilities_Refinancing Mortgages Under Section 235(r) of the National...


Contract Rights and Obligations; Assistance Payments Contracts; Servicing Responsibilities_Refinancing Mortgages Under Section 235(r) of the National...


Contract Rights and Obligations; Assistance Payments Contracts; Servicing Responsibilities_Refinancing Mortgages Under Section 235(r) of the National...


Contract Rights and Obligations; Assistance Payments Contracts; Servicing Responsibilities_Refinancing Mortgages Under Section 235(r) of the National...


Contract Rights and Obligations; Assistance Payments Contracts; Servicing Responsibilities_Refinancing Mortgages Under Section 235(r) of the National...


Contract Rights and Obligations; Assistance Payments Contracts; Servicing Responsibilities_Refinancing Mortgages Under Section 235(r) of the National...


Contract Rights and Obligations; Assistance Payments Contracts; Servicing Responsibilities_Refinancing Mortgages Under Section 235(r) of the National...


Contract Rights and Obligations; Assistance Payments Contracts; Servicing Responsibilities_Refinancing Mortgages Under Section 235(r) of the National...


Contract Rights and Obligations; Assistance Payments Contracts; Servicing Responsibilities_Refinancing Mortgages Under Section 235(r) of the National...


Contract Rights and Obligations; Assistance Payments Contracts; Servicing Responsibilities_Refinancing Mortgages Under Section 235(r) of the National...


Contract Rights and Obligations; Assistance Payments Contracts; Servicing Responsibilities_Refinancing Mortgages Under Section 235(r) of the National...


Mortgage Insurance Sec. 236.1 Applicability, cross-reference, and savings clause. Subpart A_Eligibility Requirements for...


Mortgage Insurance Sec. 236.2 Increased distributions to certain limited distribution mortgagors. (a) Increased distributions. The Commissioner may permit...


Mortgage Insurance Sec. 236.3 Annual income exclusions. The exclusions to annual income described in 24 CFR 5.609(c) apply to those program participants...


Mortgage Insurance Sec. 236.251 Cross-reference. All of the provisions of subpart B, part 207 of this chapter covering mortgages insured under...


for Mortgage Insurance Sec. 236.252 First, second, and third mortgage insurance premiums. All of the provisions of Sec. 207.252 of this chapter governing...


Mortgage Insurance Sec. 236.253 Premiums--operating loss loans. All of the provisions of Sec. 207.252a of this chapter relating to mortgage insurance...


Mortgage Insurance Sec. 236.254 Termination of mortgage insurance. In addition to the provisions of Sec. 207.253a, the following requirements apply...


Mortgage Insurance Sec. 236.255 Forbearance relief. (a) In a case where the mortgage is in default, the mortgagor and the mortgagee may enter into...


Mortgage Insurance Sec. 236.260 Request by Commissioner for assignment of mortgage. The mortgagee shall, when requested by the Commissioner, assign to...


for Mortgage Insurance Sec. 236.265 Payment of insurance benefits. All of the provisions of Sec. 207.259 of this chapter relating to insurance benefits...


Sec. 236.501 Interest reduction payments contract. This subpart shall constitute the interest reduction payment contract between the mortgagee...


Sec. 236.505 Eligible mortgages. Interest reduction payments pursuant to this subpart shall be made only in connection with a mortgage which is...


Payments Sec. 236.510 Term of payments. (a) The term for which interest reduction payments shall be made shall begin on the following dates: (1)...


Sec. 236.515 Time of payments. The interest reduction payments shall be due on the first day of each month following the beginning of the term,...


Sec. 236.520 Amount of payments. (a) The interest reduction payment to the mortgagee shall be in an amount not exceeding the difference between...


Sec. 236.525 Application of payments. The mortgagee shall apply each monthly interest reduction payment, together with the mortgagor's monthly...


Sec. 236.530 Mortgagee records. The mortgagee shall maintain such records as the Commissioner may require with respect to the mortgagor's payments...


Sec. 236.535 Effect of assignment of mortgage. In the event a mortgage subject to interest reduction payments is assigned to another approved...


Sec. 236.599 Effect of amendments. The regulations in this subpart may be amended by the Commissioner at any time and from time to time, in whole or...


Payments Sec. 236.701 Scope of rental assistance. Source: 40 FR 31872, July 29, 1975, unless otherwise noted. The Secretary shall enter...


Sec. 236.705 Projects eligible for benefits. (a) Rental assistance payments may be made with respect to section 236 projects with Rental...


Payments Sec. 236.710 Qualified tenant. (a) The benefits of rental assistance payments are available only to an individual or a family who is renting...


Sec. 236.715 Determination of eligibility. (a) The housing owner shall determine eligibility following procedures prescribed by the Commissioner...


Sec. 236.720 Provisions applicable to cooperative members. (a) A member of a cooperative who obtains a certificate of eligibility shall be required, as...


Sec. 236.725 Term of contract. The rental assistance contract shall be limited to the term of the mortgage or 40 years from the date of the first...


Payments Sec. 236.730 Maximum annual rental assistance contract amount. The rental assistance contract shall specify the maximum amount of the...


Payments Sec. 236.735 Rental assistance payments and rental charges. (a) Amount of rental assistance payments. The rental assistance contract shall...


Sec. 236.740 Time of payment under contract. The rental assistance contract shall provide for payments to be made monthly to the housing owner on...


Sec. 236.745 Tenant occupancy limitations. Eligible tenants shall not be permitted to occupy units larger than the Secretary determines necessary...


Sec. 236.750 Form of lease. (a) Lease form. Eligible tenants shall be required to execute a lease in a form approved by the Commissioner. ...


Payments Sec. 236.755 Housing owner's obligation under contract to report tenant income increase. The rental assistance contract shall contain a...


Sec. 236.760 Change in tenant income status. Appropriate adjustments will be made in rental assistance payments to reflect changes in income or...


Sec. 236.765 Determination of eligible immigration status of applicants and tenants; protection from liability. (a) Housing owner's obligation to...


236.901 Audit. Where a State or local government receives interest reduction payments under section 236(b) of the National Housing Act or is...


Assistance Sec. 236.1001 Displacement, relocation, and acquisition. (a) Minimizing displacement. Consistent with the other goals and objectives of...


241.1 Eligibility requirements. Subpart A_Eligibility Requirements Sec. 241.1 Eligibility requirements. ...


241.251 Cross-reference. (a) Projects with a HUD-insured or HUD-held mortgage. All of the provisions of subpart B, part 207 of this chapter, covering...


241.260 Definitions. All of the definitions contained in Sec. 241.1 shall apply to this subpart. In addition, the term contract of insurance, as used in...


241.261 Payment of insurance benefits. All of the provisions of Sec. 207.259 of this chapter relating to insurance benefits shall apply to multifamily loans...


241.265 Insurance of property against flood. The mortgaged property shall be insured against flood as stipulated by the Federal Housing Commissioner. The...


241.270 Refund upon termination of insurance. Upon termination of the insurance contract by payment in full or by voluntary termination, the Commissioner shall...


241.275 No vested right in fund. Neither the lender nor the borrower shall have any vested or other right in the insurance fund under which the loan...




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