1. Regulations
  2. title 24
  3. chapter II
  4. part 241
  5. subpart C
  6. subjgrp 200
  7. § 241.586

View all text of Subjgrp 200 [§ 241.530a - § 241.586]

§ 241.586 - Minimum principal loan amount.

A mortgagee may not require, as a condition of providing a loan insured under this subpart, that the principal amount of the mortgage exceed a minimum amount established by the mortgagee.

[53 FR 8886, Mar. 18, 1988]

AUTHORITY: 12 U.S.C. 1715b, 1715z-6, and 1735d; 42 U.S.C. 3535(d).

SOURCE: 36 FR 24653, Dec. 22, 1971, unless otherwise noted.

CITE AS: 24 CFR 241.586