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e-CFR data is current as of June 30, 2020

Title 24Subtitle BChapter IISubchapter BPart 220Subpart D → §220.806


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


§220.806   Pro rata refund of insurance premium.

Upon termination of loan insurance contract by a payment in full or by a voluntary termination, the Commissioner shall refund to the lender for the account of the borrower an amount equal to the pro rata portion of the current annual loan insurance premium theretofore paid which is applicable to the portion of the year subsequent to the date of the prepayment or the effective date of the voluntary termination of the contract of insurance.

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