Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 24 - Housing and Urban Development |
Subtitle B - Regulations Relating to Housing and Urban Development |
Chapter V - Office of Assistant Secretary for Community Planning and Development, Department of Housing and Urban Development |
SubChapter C - Community Facilities |
Part 570 - Community Development Block Grants |
Subpart M - Loan Guarantees |
§ 570.706 - Federal guarantee; subrogation.
Latest version.
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§ 570.706 Federal guarantee; subrogation.
Section 108(f) of the Act provides for the incontestability of guarantees by HUD under subpart M of this part in the hands of a holder of such guaranteed obligations. If HUD pays a claim under a guarantee made under section 108 of the Act, HUD shall be fully subrogated for all the rights of the holder of the guaranteed debt obligation with respect to such obligation.
[61 FR 11481, Mar. 20, 1996]