Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 24 - Housing and Urban Development |
Subtitle B - Regulations Relating to Housing and Urban Development |
Chapter II - Office of Assistant Secretary for Housing - Federal Housing Commissioner, Department of Housing and Urban Development |
SubChapter B - Mortgage and Loan Insurance Programs Under National Housing Act and Other Authorities |
Part 207 - Multifamily Housing Mortgage Insurance |
Subpart B - Contract Rights and Obligations |
Rights and Duties of Mortgagee Under the Contract of Insurance |
§ 207.257 - Commissioner's right to require acceleration.
Latest version.
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§ 207.257 Commissioner's right to require acceleration.
Upon receipt of notice of violation of a covenant, as provided for in § 207.256(b), or otherwise being apprised of the violation of a covenant, the Commissioner reserves the right to require the mortgagee to accelerate payment of the outstanding principal balance due in order to protect the interests of the Commissioner.
[76 FR 24371, May 2, 2011]