GroundRules
24 CFR 241.825: Pro rata refund of insurance premium.
Where this section sits in the code
- 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 241—SUPPLEMENTARY FINANCING FOR INSURED PROJECT MORTGAGES
- Subpart D—Contract Rights and Obligations—Multifamily Projects Without a HUD-Insured or HUD-Held Mortgage
Upon termination of a loan insurance contract by a payment in full or by a voluntary termination, the Commissioner shall refund to the lender for the account of the borrower an amount equal to the pro rata portion of the current annual loan insurance premium theretofore paid which is applicable to the portion of the year subsequent to the effective date of the termination.
Collected 2026-08-27T02:24:55Z. Source file · JSON