1. Regulations
  2. title 24
  3. chapter IX
  4. part 1005
  5. subpart G
  6. subjgrp 64
  7. § 1005.747

View all text of Subjgrp 64 [§ 1005.739 - § 1005.757]

§ 1005.747 - Assumption.

The Servicer shall explore assumption as a loss mitigation option with the Borrower in accordance with § 1005.711. Assumptions associated with loss mitigation must result in the cure of the default and reinstatement of the Section 184 Guaranteed Loan.

AUTHORITY: 12 U.S.C. 1715z-13a; 15 U.S.C. 1639c; 42 U.S.C. 3535(d).

SOURCE: 89 FR 20056, Mar. 20, 2024; 89 FR 22084, Mar. 29, 2024, unless otherwise noted.

CITE AS: 24 CFR 1005.747