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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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Assignment and Forbearance - Property in Allegany Reservation of Seneca Indians |
§ 203.666 - Processing defaulted mortgages on property in Allegany Reservation of Seneca Nation of Indians.
Latest version.
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§ 203.666 Processing defaulted mortgages on property in Allegany Reservation of Seneca Nation of Indians.
(a) Applicability. This section applies to mortgages authorized by section 203(q) of the National Housing Act (§ 203.43j) only if the default occurred before the mortgagor and the lessee execute a lease renewal or a new lease either with a term of not less than five years beyond the maturity date of the mortgage, or with a term established by an arbitration award.
(b) Claims through assignment. Before a mortgagee requests the Secretary to accept assignment under § 203.350(d) the mortgagee must submit documents showing that the requirements of § 203.604 have been met.
[53 FR 13405, Apr. 25, 1988, as amended at 61 FR 35020, July 3, 1996]