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Electronic Code of Federal Regulations
§203.412 Payment for foreclosure alternative actions.
Notwithstanding the conveyance, sale, or assignment requirements for payment of a claim elsewhere in this part, HUD may pay the mortgagee, in accordance with procedures prescribed by HUD, for the following foreclosure alternative actions, in such amounts as HUD determines:
(a) Assumptions under §203.512;
(b) Special forbearance under §§203.471 and 203.614;
(c) Recasting or modification of defaulted mortgages under §203.616, where the mortgagee is not reimbursed under §203.405(a);
(d) Refinancing under §203.43(c).
[61 FR 35019, July 3, 1996]