§207.257. Commissioner's right to require acceleration.
24 C.F.R. § 207.257
Upon receipt of notice of violation of a covenant, as provided for in § 207.256(b), or otherwise being apprised of the violation of a covenant, the Commissioner reserves the right to require the mortgagee to accelerate payment of the outstanding principal balance due in order to protect the interests of the Commissioner.
Notes, amendments, and revision history
Amendments
[76 FR 24371, May 2, 2011]
Authority
Authority: 12 U.S.C. 1701z-11(e), 1709(c)(1), 1713, 1715(b), and 1735d; 42 U.S.C. 3535(d).
Source
Source: 36 FR 24537, Dec. 22, 1971, unless otherwise noted.
Amendments
[76 FR 24371, May 2, 2011]