§200.50. Building loan agreement.
24 C.F.R. § 200.50
The mortgagor and mortgagee must execute a building loan agreement approved by the Commissioner, that sets forth the terms and conditions under which progress payments may be advanced during construction, before initial endorsement of the mortgage for insurance.
Notes, amendments, and revision history
Source
Source: 61 FR 14399, Apr. 1, 1996, unless otherwise noted.
Authority
Authority: 12 U.S.C. 1702-1715z-21; 42 U.S.C. 3535(d).
Source
Source: 36 FR 24467, Dec. 22, 1971, unless otherwise noted.