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Code of Federal Regulations (Last Updated: November 8, 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 206 - Home Equity Conversion Mortgage Insurance |
| Subpart A - General |
| § 206.1 - Purpose. |
| § 206.3 - Definitions. |
| § 206.7 - Effect of amendments. |
| § 206.8 - Preemption. |
| Subpart B - Eligibility; Endorsement |
| § 206.9 - Eligible mortgagees. |
| § 206.13 - Disclosure of available HECM program options. |
| § 206.15 - Insurance. |
| Deferral of Due and Payable Status |
| § 206.55 - Deferral of due and payable status for Eligible Non-Borrowing Spouses. |
| § 206.57 - Cure provision enabling reinstatement of Deferral Period. |
| § 206.59 - Obligations of mortgagee. |
| § 206.61 - HECM proceeds during a Deferral Period. |
| Eligible Mortgagors |
| Eligible Mortgages |
| § 206.17 - Eligible mortgages: general. |
| § 206.19 - Payment options. |
| § 206.21 - Interest rate. |
| § 206.23 - Shared appreciation. |
| § 206.25 - Calculation of disbursements. |
| § 206.26 - Change in payment option. |
| § 206.27 - Mortgage provisions. |
| § 206.29 - Initial disbursement of mortgage proceeds. |
| § 206.31 - Allowable charges and fees. |
| § 206.32 - No outstanding unpaid obligations. |
| Eligible Borrowers |
| § 206.33 - Age of borrower. |
| § 206.34 - Limitation on number of mortgages. |
| § 206.35 - Title of property which is security for HECM. |
| § 206.36 - Seasoning requirements for existing non-HECM liens. |
| § 206.37 - Credit standing. |
| § 206.39 - Principal residence. |
| § 206.40 - Disclosure, verification and certifications. |
| § 206.41 - Counseling. |
| § 206.43 - Information to borrower. |
| § 206.44 - Monetary investment for HECM for Purchase program. |
| Eligible Properties |
| § 206.45 - Eligible properties. |
| § 206.47 - Property standards; repair work. |
| § 206.51 - Eligibility of mortgages involving a dwelling unit in a condominium. |
| § 206.52 - Eligible sale of property-HECM for Purchase. |
| Refinancing of Existing Home Equity Conversion Mortgages |
| § 206.53 - Refinancing a HECM loan. |
| Subpart C - Contract Rights and Obligations |
| HUD Responsibility to Mortgagors |
| Termination of Insurance Contract |
| § 206.133 - Termination of insurance contract. |
| Sale, Assignment and Pledge |
| § 206.101 - Sale, assignment and pledge of insured mortgages. |
| § 206.102 - Insurance Funds. |
| Claim Procedure |
| § 206.123 - Claim procedures in general. |
| § 206.125 - Acquisition and sale of the property. |
| § 206.127 - Application for insurance benefits. |
| § 206.129 - Payment of claim. |
| Mortgage Insurance Premiums |
| § 206.103 - Payment of MIP. |
| § 206.105 - Amount of MIP. |
| § 206.107 - Mortgagee election of assignment or shared premium option. |
| § 206.109 - Amount of mortgagee share of premium. |
| § 206.111 - Due date of MIP. |
| § 206.113 - Late charge and interest. |
| § 206.115 - Insurance of mortgage. |
| § 206.116 - Refunds. |
| Additional Requirements |
| § 206.134 - Partial release, addition or substitution of security. |
| § 206.135 - Application for insurance benefits and fiscal data. |
| § 206.136 - Conditions for assignment. |
| § 206.137 - Effect of noncompliance with regulations. |
| § 206.138 - Mortgagee's liability for certain expenditures. |
| § 206.140 - Inspection and preservation of properties. |
| § 206.141 - Property condition. |
| § 206.142 - Adjustment for damage or neglect. |
| § 206.143 - Certificate of property condition. |
| § 206.144 - Final payment. |
| § 206.145 - Items deducted from payment. |
| § 206.146 - Debenture interest rate. |
| HUD Responsibility to Borrowers |
| § 206.117 - General. |
| § 206.119 - [Reserved] |
| § 206.121 - Commissioner authorized to make payments. |
| Condominiums |
| § 206.131 - Contract rights and obligations for mortgages on individual dwelling units in a condominium. |
| Subpart D - Servicing Responsibilities |
| § 206.201 - Mortgage servicing generally; sanctions. |
| § 206.203 - Providing information. |
| § 206.205 - Property charges. |
| § 206.207 - Allowable charges and fees after endorsement. |
| § 206.209 - Prepayment. |
| § 206.211 - Determination of principal residence and contact information. |
| Subpart E - HECM Counselor Roster |
| § 206.300 - General. |
| § 206.302 - Establishment of the HECM Counselor Roster. |
| § 206.304 - Eligibility for placement on the HECM Counselor Roster. |
| § 206.306 - Removal from the HECM Counselor Roster. |
| § 206.308 - Continuing education requirements of counselors listed on the HECM Counselor Roster. |