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e-CFR data is current as of July 9, 2020

Title 24Subtitle BChapter IISubchapter BPart 203Subpart B → §203.353


Title 24: Housing and Urban Development
PART 203—SINGLE FAMILY MORTGAGE INSURANCE
Subpart B—Contract Rights and Obligations


§203.353   Certification by mortgagee.

At the time of assignment of the mortgage, the mortgagee shall certify to the Commissioner that:

(a) Priority of mortgage to liens. The mortgage is prior to all mechanics' and materialmen's liens filed of record, regardless of when such liens attach, and prior to all liens and encumbrances, or defects which may arise except such liens or other matters as may have been approved by the Commissioner;

(b) Amount due. The amount stated in the instrument of assignment is actually due and owing under the mortgage;

(c) Offsets or counterclaims. There are no offsets or counterclaims thereto and the mortgagee has a good right to assign.

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