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Single Family Mortgage InsuranceLoss Mitigation Procedures

HUD · hud-fha · Published 1997-11-06 · Effective 1998-02-01 · 62 FR 60124

Document

Document number
97-29374
Federal Register citation
62 FR 60124
CFR reference
24 CFR 203
Type
Rule
Action
Final rule.
Category
hud-fha
Agency
US Department of Housing and Urban Development
Publication date
1997-11-06
Effective date
1998-02-01
Docket
Docket No. FR-4032-F-04

Abstract

This rule implements as final an interim rule that 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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