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Office of the Assistant Secretary for Housing-Federal Housing Commissioner; Single Family Mortgage InsuranceLoss Mitigation Procedures

HUD · hud-fha · Published 1996-07-03 · Effective 1996-08-02 · 61 FR 35014

Document

Document number
96-16869
Federal Register citation
61 FR 35014
CFR reference
24 CFR 203
Type
Rule
Action
Interim rule.
Category
hud-fha
Agency
US Department of Housing and Urban Development
Publication date
1996-07-03
Effective date
1996-08-02

Abstract

This interim rule amends 24 CFR part 203 to eliminate the Mortgage Assignment Program and to provide that HUD may: recompense mortgagees for using mortgage foreclosure alternatives, such as special forbearance, loan modifications, and deeds in lieu of foreclosure; pay the mortgagee a partial claim which would be applied to the arrearage of a defaulted mortgage; and accept assignment of a mortgage which the mortgagee has modified to cure the default.

Source

Authoritative
Federal Register document
Machine
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