§570.706. Federal guarantee; subrogation.
24 C.F.R. § 570.706
Section 108(f) of the Act provides for the incontestability of guarantees by HUD under subpart M of this part in the hands of a holder of such guaranteed obligations. If HUD pays a claim under a guarantee made under section 108 of the Act, HUD shall be fully subrogated for all the rights of the holder of the guaranteed debt obligation with respect to such obligation.
Notes, amendments, and revision history
Amendments
[61 FR 11481, Mar. 20, 1996]
Source
Source: 59 FR 66604, Dec. 27, 1994, unless otherwise noted.
Authority
Authority: 12 U.S.C. 1701x, 1701 x-1; 42 U.S.C. 3535(d) and 5301-5320.
Source
Source: 40 FR 24693, June 9, 1975, unless otherwise noted.
Amendments
[61 FR 11481, Mar. 20, 1996]