Code of Federal Regulations (Last Updated: May 6, 2024) |
Title 24 - Housing and Urban Development |
Subtitle B - Regulations Relating to Housing and Urban Development |
Chapter II - Office of Assistant Secretary for Housing - Federal Housing Commissioner, Department of Housing and Urban Development |
SubChapter B - Mortgage and Loan Insurance Programs Under National Housing Act and Other Authorities |
Part 236 - Mortgage Insurance and Interest Reduction Payment for Rental Projects |
Subpart B - Contract Rights and Obligations for Mortgage Insurance |
§ 236.254 - Termination of mortgage insurance.
Latest version.
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§ 236.254 Termination of mortgage insurance.
In addition to the provisions of § 207.253a, the following requirements apply to multifamily mortgages insured under section 236 of the National Housing Act:
(a) For those projects qualifying as eligible low income housing under § 248.201, the contract of insurance may be terminated only as provided in part 248.
(b) For those projects subject to section 250(a) of the National Housing Act, the contract of insurance may be terminated only if the Commissioner determines that the requirements of section 250(a) are met.
[55 FR 38958, Sept. 21, 1990]