§200.81. Disbursement of mortgage proceeds.
24 C.F.R. § 200.81
The mortgagee shall be obligated, as a part of the mortgage transaction, to disburse the principal amount of the mortgage to the:
Mortgagor or mortgagor's account;
Mortgagor's creditors for the mortgagor's account, subject to the mortgagor's consent.
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.