§290.33. Sale of delinquent mortgages securing subsidized projects.

24 C.F.R. § 290.33

Delinquent mortgages securing subsidized projects will be sold only if, as part of the sales transaction:

(a)

The mortgages are restructured; and

(b)

Either FHA mortgage insurance or equivalent protections are provided.

Notes, amendments, and revision history

Authority: 12 U.S.C. 1701z-11, 1701z-12, 1713, 1715b, 1715z-1b, 1715z-11a; 42 U.S.C. 3535(d) and 3535(i).

Source: 61 FR 11685, Mar. 21, 1996, unless otherwise noted.