§203.666. Processing defaulted mortgages on property in Allegany Reservation of Seneca Nation of Indians.
24 C.F.R. § 203.666
Applicability. This section applies to mortgages authorized by section 203(q) of the National Housing Act (§ 203.43j) only if the default occurred before the mortgagor and the lessee execute a lease renewal or a new lease either with a term of not less than five years beyond the maturity date of the mortgage, or with a term established by an arbitration award.
Claims through assignment. Before a mortgagee requests the Secretary to accept assignment under § 203.350(d) the mortgagee must submit documents showing that the requirements of § 203.604 have been met.
Notes, amendments, and revision history
Amendments
[53 FR 13405, Apr. 25, 1988, as amended at 61 FR 35020, July 3, 1996]
Source
Source: 41 FR 49736, Nov. 10, 1976, unless otherwise noted.
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
[53 FR 13405, Apr. 25, 1988, as amended at 61 FR 35020, July 3, 1996]