GroundRules
24 CFR 290.35: Sale of HUD-held mortgages securing unsubsidized projects.
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 I—HUD-OWNED PROPERTIES
- PART 290—DISPOSITION OF MULTIFAMILY PROJECTS AND SALE OF HUD-HELD MULTIFAMILY MORTGAGES
- Subpart B—Sale of HUD-Held Multifamily Mortgages
HUD's policy for selling HUD-held mortgages securing unsubsidized projects is as follows:
(a) Current mortgages may be sold with or without FHA mortgage insurance.
(b) Delinquent mortgages may be sold without FHA mortgage insurance. However, delinquent mortgages will not be sold if:
(1) HUD believes that foreclosure is unavoidable; and
(2) The project securing the mortgage is occupied by very low-income tenants who are not receiving housing assistance and would be likely to pay rent in excess of 30 percent of their adjusted monthly income if HUD sold the mortgage.
Collected 2026-08-27T02:24:55Z. Source file · JSON