---
kind: "section"
citation: "24 C.F.R. § 203.410"
title: "24"
number: "203.410"
heading: "Issue date of debentures."
url: "https://uscodex.org/cfr/24/203.410"
---

# §203.410. Issue date of debentures.

- (a) **Conveyed properties, claims without conveyance, pre-foreclosure sales—** Where the property is conveyed to the Commissioner, or the mortgagee or other party acquires title to the property under the claim without conveyance procedure or the pre-foreclosure sale procedure, debenture shall be dated:
  - (1) If issued prior to September 2, 1964, or issued on or after such date and a certificate of claim is also issued, as of one of the dates as follows:
    - (i) The foreclosure proceedings were instituted;
    - (ii) The property was otherwise acquired by the mortgagee after default;
    - (iii) The property was acquired by the Commissioner, if directly conveyed to the Commissioner from the mortgagor; or
    - (iv) **The property was acquired after default by a third party under the pre-foreclosure sale procedure.**
  - (2) If issued on or after September 2, 1964, and a certificate of claim is not issued, as of the date of default as defined in this part.
  - (3) As of the day after the date to which mortgage interest is computed as specified in [§ 203.402a](/cfr/24/203.402a.md), if the insurance settlement includes an allowance for uncollected interest in connection with a special forbearance.
- (b) **Assigned mortgages.** Where the mortgage is assigned to the Commissioner, debentures shall be dated as of the date of the assignment.
- (c) Notwithstanding [paragraph (a)](#a) of this section, in connection with conveyed properties and claims without conveyance, debentures issued as reimbursement for expenditures made by a mortgagee after the date of default shall be dated as of the date the expenditure is actually made by the mortgagee.

## Notes

### Amendments

[36 FR 24508, Dec. 22, 1971, as amended at 50 FR 3892, Jan. 29, 1985; 52 FR 1329, Jan. 13, 1987; 59 FR 50145, Sept. 30, 1994; 60 FR 57678, Nov. 16, 1995]

### Authority

Authority: 12 U.S.C. 1707, 1709, 1710, 1715b, 1715z-16, 1715u, and 1715z-21; 15 U.S.C. 1639c; 42 U.S.C. 3535(d).

### Source

Source: 36 FR 24508, Dec. 22, 1971, unless otherwise noted.

### Amendments

[36 FR 24508, Dec. 22, 1971, as amended at 50 FR 3892, Jan. 29, 1985; 52 FR 1329, Jan. 13, 1987; 59 FR 50145, Sept. 30, 1994; 60 FR 57678, Nov. 16, 1995]