---
kind: "section"
citation: "24 C.F.R. § 266.606"
title: "24"
number: "266.606"
heading: "Mortgage insurance premium: Duration and method of paying."
url: "https://uscodex.org/cfr/24/266.606"
---

# §266.606. Mortgage insurance premium: Duration and method of paying.

- (a) **Duration of payments.** Mortgage insurance premium payments must continue annually until one of the following occurs:
  - (1) The mortgage is paid in full;
  - (2) A deed to the HFA is filed for record;
  - (3) An application for initial claim payment is received by the Commissioner; or
  - (4) **The contract of insurance is otherwise terminated.**
- (b) **Method of payment.** The HFA shall pay any mortgage insurance premium required by this part in cash.

## Notes

### Amendments

[59 FR 62524, Dec. 5, 1994, as amended at 85 FR 83440, Dec. 22, 2020]

### Authority

Authority: 12 U.S.C. 1715z-22.; 42 U.S.C. 3535(d).

### Source

Source: 59 FR 62524, Dec. 5, 1994, unless otherwise noted.

### Amendments

[59 FR 62524, Dec. 5, 1994, as amended at 85 FR 83440, Dec. 22, 2020]