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Code of Federal Regulations (Last Updated: May 6, 2024) |
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Title 24 - Housing and Urban Development |
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Subtitle B - Regulations Relating to Housing and Urban Development |
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Chapter II - Office of Assistant Secretary for Housing - Federal Housing Commissioner, Department of Housing and Urban Development |
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SubChapter B - Mortgage and Loan Insurance Programs Under National Housing Act and Other Authorities |
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Part 203 - Single Family Mortgage Insurance |
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Subpart C - Servicing Responsibilities |
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Mortgagee Action and Forbearance |
§ 203.600 - Mortgage collection action.
Latest version.
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§ 203.600 Mortgage collection action.
Subject to the requirements of this subpart, mortgagees shall take prompt action to collect amounts due from mortgagors to minimize the number of accounts in a delinquent or default status. Collection techniques must be adapted to individual differences in mortgagors and take account of the circumstances peculiar to each mortgagor.