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Code of Federal Regulations (Last Updated: July 5, 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 B - Contract Rights and Obligations |
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Payment of Insurance Benefits |
§ 203.412 - Payment for foreclosure alternative actions.
Latest version.
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§ 203.412 Payment for foreclosure alternative actions.
Notwithstanding the conveyance, sale, or assignment requirements for payment of a claim elsewhere in this part, HUD may pay the mortgagee, in accordance with procedures prescribed by HUD, for the following foreclosure alternative actions, in such amounts as HUD determines:
(a) Assumptions under § 203.512;
(b) Special forbearance under §§ 203.471 and 203.614;
(c) Recasting or modification of defaulted mortgages under § 203.616, where the mortgagee is not reimbursed under § 203.405(a);
(d) Refinancing under § 203.43(c).
[61 FR 35019, July 3, 1996]