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Electronic Code of Federal Regulations

e-CFR Data is current as of December 18, 2014

Title 24Subtitle BChapter IISubchapter BPart 220Subpart D → §220.823


Title 24: Housing and Urban Development
PART 220—MORTGAGE INSURANCE AND INSURED IMPROVEMENT LOANS FOR URBAN RENEWAL AND CONCENTRATED DEVELOPMENT AREAS
Subpart D—Contract Rights and Obligations—Projects


§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.



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