§1000.416. What is a repayment contract in a form acceptable to HUD?

The Secretary's signature on a contract shall signify HUD's acceptance of the form, terms and conditions of the contract.

In loans under title VI of NAHASDA, involving a contract between an issuer and a lender other than HUD, HUD's approval of the loan documents and guarantee of the loan shall be deemed to be HUD's acceptance of the sufficiency of the security furnished. No other security can or will be required by HUD at a later date.