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Code of Federal Regulations (Last Updated: November 8, 2024) |
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Title 22 - Foreign Relations |
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Chapter II - Agency for International Development |
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Part 234 - Ukraine Loan Guarantees Issued Under the Support for the Sovereignty, Integrity, Democracy, and Economic Stability of Ukraine Act of 2014, Pub. L. 113-95 - Standard Terms and Conditions |
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Subpart B - Contract Rights and Obligations - Individually Owned Units |
§ 234.256 - Substitute mortgagors.
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(a) Selling mortgagor. The requirements for the selling mortgagor are set forth in § 203.258(a) of this chapter.
(b) Purchasing mortgagor. (1) If the dwelling is a principal or secondary place of residence, the requirements for the purchasing mortgagor are set forth in § 203.258(b)(1) of this chapter.
(2) [Reserved]
(c) Applicability—current mortgagor. Paragraph (b) of this section applies to the Commissioner's approval of a substitute mortgagor only if the mortgage executed by the original mortgagor met the conditions of § 203.258(c) of this chapter.
(d) Applicability—earlier mortgagor. The occupancy and similar requirements set forth in § 203.258(d) of this chapter apply to mortgages insured under subpart A of this part.
(e) Direct endorsement. Requirements for the direct endorsement program are set forth in § 203.258(f) of this chapter.
(f) Substitute mortgagor is defined in § 203.258(f) of this chapter.
[55 FR 34814, Aug. 24, 1990, as amended at 57 FR 38352, Dec. 9, 1992; 61 FR 60163, Nov. 26, 1996]