§401.552. Servicing of second mortgage.
24 C.F.R. § 401.552
HUD or its designee will be responsible for servicing the second mortgage, including determining the amounts receivable by the owner under § 401.461(b)(3)(ii)(A). HUD may designate the PAE, with the PAE's consent, as servicer for the second mortgage.
Notes, amendments, and revision history
Authority
Authority: 12 U.S.C. 1715z-1 and 1735f-19(b); 42 U.S.C. 1437(c)(8), 1437f(t), 1437f note, and 3535(d).
Source
Source: 65 FR 15485, Mar. 22, 2000, unless otherwise noted.