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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 220 - Mortgage Insurance and Insured Improvement Loans for Urban Renewal and Concentrated Development Areas |
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Subpart D - Contract Rights and Obligations - Projects |
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Insured Project Improvement Loans |
§ 220.823 - Claim computation; items deducted.
Latest version.
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§ 220.823 Claim computation; items deducted.
If the lender is to receive payment in cash, there shall be deducted from the total of the added items in § 220.822 the following:
(a) Any balance of the loan not advanced to the borrower;
(b) Any cash held by the lender or its agents or to which it is entitled; including deposits made for the account of the borrower and which have not been applied in reduction of the principal obligation under the note and security instrument or instruments.