1. Regulations
  2. title 24
  3. chapter II
  4. part 290
  5. subpart B
  6. § 290.33

View all text of Subpart B [§ 290.30 - § 290.39]

§ 290.33 - Sale of delinquent mortgages securing subsidized projects.

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.

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.

CITE AS: 24 CFR 290.33