24 C.F.R. PART 203--SINGLE FAMILY MORTGAGE INSURANCE


TITLE 24--Housing and Urban Development

Subtitle B--REGULATIONS RELATING TO HOUSING AND URBAN DEVELOPMENT

CHAPTER II--OFFICE OF ASSISTANT SECRETARY FOR HOUSING--FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

SUBCHAPTER B--MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES

PART 203--SINGLE FAMILY MORTGAGE INSURANCE

rule

Subpart A--ELIGIBILITY REQUIREMENTS AND UNDERWRITING PROCEDURES

�203.1
Underwriting procedures.
�203.3
Approval of mortgagees for Direct Endorsement.
�203.4
Approval of mortgagees for Lender Insurance.
�203.5
Direct Endorsement process.
�203.6
Lender Insurance process.
�203.7
Commitment process.
�203.9
Disclosure regarding interest due upon mortgage prepayment.
�203.10
Informed consumer choice for prospective FHA mortgagors.
�203.12
Mortgage insurance on proposed or new construction.
�203.14
Builders' warranty.
�203.15
Certification of appraisal amount.
�203.16
Certificate and contract regarding use of dwelling for transient or hotel purposes.
�203.16a
Mortgagor and mortgagee requirement for maintaining flood insurance coverage.
�203.17
Mortgage provisions.
�203.18
Maximum mortgage amounts.
�203.18a
Solar energy system.
�203.18b
Increased mortgage amount.
�203.18c
One-time or up-front mortgage insurance premium excluded from limitations on maximum mortgage amounts.
�203.18d
Minimum principal loan amount.
�203.19
Mortgagor's minimum investment.
�203.20
Agreed interest rate.
�203.21
Amortization provisions.
�203.22
Payment of insurance premiums or charges; prepayment privilege.
�203.23
Mortgagor's payments to include other charges.
�203.24
Application of payments.
�203.25
Late charge.
�203.26
Mortgagor's payments when mortgage is executed.
�203.27
Charges, fees or discounts.
�203.28
Economic soundness of projects.
�203.29
Eligible mortgages in Alaska, Guam, Hawaii, or the Virgin Islands.
�203.30
Certificate of nondiscrimination by the mortgagor.
�203.31
Mortgagor of a principal residence in military service cases.
�203.32
Mortgage lien.
�203.33
Relationship of income to mortgage payments.
�203.34
Credit standing.
�203.35
Disclosure and verification of Social Security and Employer Identification Numbers.
�203.36
[Reserved]
�203.37
Nature of title to realty.
�203.37a
Sale of property.
�203.38
Location of dwelling.
�203.39
Standards for buildings.
�203.40
Location of property.
�203.41
Free assumability; exceptions.
�203.42
Rental properties.
�203.43
Eligibility of miscellaneous type mortgages.
�203.43a
Eligibility of mortgages covering housing in certain neighborhoods.
�203.43b
[Reserved]
�203.43c
Eligibility of mortgages involving a dwelling unit in a cooperative housing development.
�203.43d
Eligibility of mortgages in certain communities.
�203.43e
Eligibility of mortgages covering houses in federally impacted areas.
�203.43f
Eligibility of mortgages covering manufactured homes.
�203.43g
Eligibility of mortgages in certain communities.
�203.43h
Eligibility of mortgages on Indian land insured pursuant to section 248 of the National Housing Act.
�203.43i
Eligibility of mortgages on Hawaiian Home Lands insured pursuant to section 247 of the National Housing Act.
�203.43j
Eligibility of mortgages on Allegany Reservation of Seneca Nation of Indians.
�203.44
Eligibility of advances.
�203.45
Eligibility of graduated payment mortgages.
�203.47
Eligibility of growing equity mortgages.
�203.49
Eligibility of adjustable rate mortgages.
�203.50
Eligibility of rehabilitation loans.
�203.51
Applicability.
�203.52
Acceptance of individual residential water purification equipment.
�203.200
Definitions.
�203.201
Scope.
�203.202
Plan acceptability and acceptance renewal criteria--general.
�203.203
Issuance and nature of insured 10-year protection plans.
�203.204
Requirements and limitations of a plan.
�203.205
Plan coverage.
�203.206
Housing performance standards or criteria.
�203.207
Designated area.
�203.208
Insurance backing criteria.
�203.209
Payments under a plan.
�203.249
Effect of amendments.
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Subpart B--CONTRACT RIGHTS AND OBLIGATIONS

�203.251
Definitions.
�203.255
Insurance of mortgage.
�203.256
Insurance of open-end advance.
�203.257
Creation of the contract.
�203.258
Substitute mortgagors.
�203.259
Method of payment of MIP.
�203.259a
Scope.
�203.260
Amount of mortgage insurance premium (periodic MIP).
�203.261
Calculation of periodic MIP.
�203.262
Due date of periodic MIP.
�203.264
Payment of periodic MIP.
�203.265
Mortgagee's late charge and interest.
�203.266
Period covered by periodic MIP.
�203.267
Duration of periodic MIP.
�203.268
Pro rata payment of periodic MIP.
�203.269
Method of payment of periodic MIP.
�203.270
Open-end insurance charges.
�203.280
One-time or Up-front MIP.
�203.281
Calculation of one-time MIP.
�203.282
Mortgagee's late charge and interest.
�203.283
Refund of one-time MIP.
�203.284
Calculation of up-front and annual MIP on or after July 1, 1991.
�203.285
Fifteen-year mortgages: Calculation of up-front and annual MIP on or after December 26, 1992.
�203.288
Discontinuance of adjusted premium charge.
�203.295
Voluntary termination.
�203.315
Termination by conveyance to other than Commissioner.
�203.316
Termination by prepayment of mortgage.
�203.317
Termination by voluntary agreement.
�203.318
Notice of termination by mortgagee.
�203.319
Pro rata payment of premiums and charges.
�203.320
Notice and date of termination by Commissioner.
�203.321
Effect of termination.
�203.330
Definition of delinquency and requirement for notice of delinquency to HUD.
�203.331
Definition of default, date of default, and requirement of notice of default to HUD.
�203.332
[Reserved]
�203.333
Reinstatement of defaulted mortgage.
�203.340
Special forbearance.
�203.341
Partial claim.
�203.342
Mortgage modification.
�203.343
Partial release, addition or substitution of security.
�203.345
Postponement of principal payments--mortgagors in military service.
�203.346
Postponement of foreclosure--mortgagors in military service.
�203.350
Assignment of mortgage.
�203.351
Application for insurance benefits and fiscal data.
�203.353
Certification by mortgagee.
�203.355
Acquisition of property.
�203.356
Notice of foreclosure and pre-foreclosure sale; reasonable diligence requirements.
�203.357
Deed in lieu of foreclosure.
�203.358
Direct conveyance of property.
�203.359
Time of conveyance to the Secretary.
�203.360
Notice of property transfer or pre-foreclosure sale and application for insurance benefits.
�203.361
Acceptance of property by Commissioner.
�203.362
Conditions for withdrawal of application for insurance benefits.
�203.363
Effect of noncompliance with regulations.
�203.364
Mortgagee's liability for property expenditures.
�203.365
Documents and information to be furnished the Secretary; claims review.
�203.366
Conveyance of marketable title.
�203.367
Contents of deed and supporting documents.
�203.368
Claims without conveyance procedure.
�203.369
Deficiency judgments.
�203.370
Pre-foreclosure sales.
�203.371
Partial claim.
��203.375-203.376
[Reserved]
�203.377
Inspection and preservation of properties.
�203.378
Property condition.
�203.379
Adjustment for damage or neglect.
�203.380
Certificate of property condition.
�203.381
Occupancy of property.
�203.382
Cancellation of hazard insurance.
�203.385
Types of satisfactory title evidence.
�203.386
Coverage of title evidence.
�203.387
Acceptability of customary title evidence.
�203.389
Waived title objections.
�203.390
Waiver of title--mortgages or property formerly held by the Secretary.
�203.391
Title objection waiver with reduced insurance benefits.
�203.400
Method of payment.
�203.401
Amount of payment--conveyed and non-conveyed properties.
�203.402
Items included in payment--conveyed and non-conveyed properties.
�203.402a
Reimbursement for uncollected interest.
�203.403
Items deducted from payment--conveyed and non-conveyed properties.
�203.404
Amount of payment--assigned mortgages.
�203.405
Debenture interest rate.
�203.406
Maturity of debentures.
�203.407
Registration of debentures.
�203.408
Form and amounts of debentures.
�203.409
Redemption of debentures.
�203.410
Issue date of debentures.
�203.411
Cash adjustment.
�203.412
Payment for foreclosure alternative actions.
�203.413
[Reserved]
�203.414
Amount of payment--partial claims.
�203.415
Delivery of certificate of claim.
�203.416
Amount and items of certificate of claim.
�203.417
Rate of interest of certificate of claim.
�203.420
Nature of Mutual Mortgage Insurance Fund.
�203.421
Allocation of Mutual Mortgage Insurance Fund income or loss.
�203.422
Right and liability under Mutual Mortgage Insurance Fund.
�203.423
Distribution of distributive shares.
�203.424
Maximum amount of distributive shares.
�203.425
Finality of determination.
�203.426
Inapplicability to housing in older declining urban areas.
�203.427
Statute of limitations on payment of distributive shares.
�203.430
Sale of interests in insured mortgages.
�203.431
Sale of insured mortgage to approved mortgagee.
�203.432
Effect of sale of insured mortgage.
�203.433
Assignments, pledges and transfers by approved mortgagee.
�203.434
Declaration of trust.
�203.435
Transfers of partial interests.
�203.436
Claim procedure--graduated payment mortgages.
�203.437
Mortgages involving a dwelling unit in a cooperative housing development.
�203.438
Mortgages on Indian land insured pursuant to section 248 of the National Housing Act.
�203.439
Mortgages on Hawaiian home lands insured pursuant to section 247 of the National Housing Act.
�203.439a
Mortgages on property in Allegany Reservation of Seneca Nation of Indians authorized by section 203(q) of the National Housing Act.
�203.440
Definitions.
�203.441
Insurance of loan.
�203.442
Contract created by Insurance Certificate or by endorsement.
�203.443
Insurance premium.
�203.457
Voluntary termination of contract.
�203.458
Termination by prepayment of loan.
�203.459
Notice of termination by lender.
�203.462
Pro rata payment of premium before termination.
�203.463
Notice and date of termination by Commissioner.
�203.464
Effect of termination.
�203.466
Definition of delinquency and requirement for notice of delinquency to HUD.
�203.467
Definition of default, date of default, and requirement of notice of default to HUD.
�203.468
[Reserved]
�203.469
Reinstatement of defaulted loan.
�203.471
Special forbearance.
�203.472
Relief for borrower in military service.
�203.473
Claim procedure.
�203.474
Maximum claim period.
�203.476
Claim application and items to be filed.
�203.477
Certificate by lender when loan assigned.
�203.478
Payment of insurance benefits.
�203.479
Debenture interest rate.
�203.481
Maturity of debentures.
�203.482
Registration of debentures.
�203.483
Forms and amounts of debentures.
�203.484
Redemption of debentures.
�203.486
Issue date of debentures.
�203.487
Cash adjustment.
�203.488
Sale of interests in insured loans.
�203.489
Sale of insured loan to approved lender.
�203.491
Effect of sale of insured loan.
�203.492
Assignments, pledges and transfers by approved lender.
�203.493
Declaration of trust.
�203.495
Transfers of partial interests.
�203.496
Actions to be taken by mortgagee or lender.
�203.499
Effect of amendments.
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Subpart C--SERVICING RESPONSIBILITIES

�203.500
Mortgage servicing generally.
�203.501
Loss mitigation.
�203.502
Responsibility for servicing.
�203.508
Providing information.
�203.510
Release of personal liability.
�203.512
Free assumability; exceptions.
�203.550
Escrow accounts.
�203.552
Fees and charges after endorsement.
�203.554
Enforcement of late charges.
�203.556
Return of partial payments.
�203.558
Handling prepayments.
�203.600
Mortgage collection action.
�203.602
Delinquency notice to mortgagor.
�203.604
Contact with the mortgagor.
�203.605
Loss mitigation performance.
�203.606
Pre-foreclosure review.
�203.608
Reinstatement.
�203.610
Relief for mortgagor in military service.
�203.614
Special forbearance.
�203.616
Mortgage modification.
�203.664
Processing defaulted mortgages on property located on Indian land.
�203.665
Processing defaulted mortgages on property located on Hawaiian home lands.
�203.666
Processing defaulted mortgages on property in Allegany Reservation of Seneca Nation of Indians.
�203.670
Conveyance of occupied property.
�203.671
Criteria for determining the Secretary's interest.
�203.672
Residential areas.
�203.673
Habitability.
�203.674
Eligibility for continued occupancy.
�203.675
Notice to occupants of pending acquisition.
�203.676
Request for continued occupancy.
�203.677
Decision to approve or deny a request.
�203.678
Conveyance of vacant property.
�203.679
occupancy after conveyance.
�203.680
Approval of occupancy after conveyance.
�203.681
Authority of HUD Field Office Managers.
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