GroundRules
24 CFR 266.606: Mortgage insurance premium: Duration and method of paying.
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 266—HOUSING FINANCE AGENCY RISK-SHARING PROGRAM FOR INSURED AFFORDABLE MULTIFAMILY PROJECT LOANS
- Subpart G—Contract Rights and Obligations
(a) Duration of payments. Mortgage insurance premium payments must continue annually until one of the following occurs:
(1) The mortgage is paid in full;
(2) A deed to the HFA is filed for record;
(3) An application for initial claim payment is received by the Commissioner; or
(4) The contract of insurance is otherwise terminated.
(b) Method of payment. The HFA shall pay any mortgage insurance premium required by this part in cash.
Collected 2026-08-27T02:24:55Z. Source file · JSON