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e-CFR data is current as of July 1, 2020

Title 24Subtitle BChapter IISubchapter BPart 241Subpart D → §241.850


Title 24: Housing and Urban Development
PART 241—SUPPLEMENTARY FINANCING FOR INSURED PROJECT MORTGAGES
Subpart D—Contract Rights and Obligations—Multifamily Projects Without a HUD-Insured or HUD-Held Mortgage


§241.850   Notice of default.

(a) If the default is not cured within the 30 day grace period, as defined in §241.530(d), the lender shall, within 30 days thereafter, notify the Commissioner in writing of such default.

(b)  The lender shall give notice in writing to the Commissioner of the failure of the borrower to comply with any covenant or obligation under the security instrument or note regardless of the fact that the lender may not have elected to accelerate the debt.

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