§203.412. Payment for foreclosure alternative actions.
24 C.F.R. § 203.412
Notwithstanding the conveyance, sale, or assignment requirements for payment of a claim elsewhere in this part, HUD may pay the mortgagee, in accordance with procedures prescribed by HUD, for the following foreclosure alternative actions, in such amounts as HUD determines:
Assumptions under § 203.512;
Recasting or modification of defaulted mortgages under § 203.616, where the mortgagee is not reimbursed under § 203.405(a);
Refinancing under § 203.43(c).
Notes, amendments, and revision history
Amendments
[61 FR 35019, July 3, 1996]
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
[61 FR 35019, July 3, 1996]