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 |
§ 236.260 - Request by Commissioner for assignment of mortgage.
Latest version.
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§ 236.260 Request by Commissioner for assignment of mortgage.
The mortgagee shall, when requested by the Commissioner, assign to the Commissioner a mortgage on which interest reduction payments are being made pursuant to the provisions of § 236.501 et seq. If the mortgage is not in default when the Commissioner requests its assignment, the first day of the month following the Commissioner's request shall be considered the date of default.