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e-CFR data is current as of July 14, 2020

Title 24Subtitle BChapter IISubchapter BPart 203Subpart B → §203.412


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


§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]

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