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Code of Federal Regulations Title 24. Housing and Urban Development § 24.234.256 Substitute mortgagors

Current as of January 02, 2025 | Updated by Findlaw Staff

(a) Selling mortgagor. The requirements for the selling mortgagor are set forth in § 203.258(a) of this chapter.

(b) Purchasing mortgagor.

(1) If the dwelling is a principal or secondary place of residence, the requirements for the purchasing mortgagor are set forth in § 203.258(b)(1) of this chapter.

(2) [Reserved]

(c) Applicability—current mortgagor. Paragraph (b) of this section applies to the Commissioner's approval of a substitute mortgagor only if the mortgage executed by the original mortgagor met the conditions of § 203.258(c) of this chapter.

(d) Applicability—earlier mortgagor. The occupancy and similar requirements set forth in § 203.258(d) of this chapter apply to mortgages insured under subpart A of this part.

(e) Direct endorsement. Requirements for the direct endorsement program are set forth in § 203.258(f) of this chapter.

(f) Substitute mortgagor is defined in § 203.258(f) of this chapter.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 24. Housing and Urban Development § 24.234.256 Substitute mortgagors - last updated January 02, 2025 | https://codes.findlaw.com/cfr/title-24-housing-and-urban-development/cfr-sect-24-234-256/

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