{"data":{"id":"us/24-cfr-1005.409","jurisdiction":"us","citation":"24 CFR 1005.409","heading":"Credit standing.","body":"(a) A Borrower must have a general credit standing satisfactory to HUD. A Direct Guarantee Lender must not use a Borrower's credit score when evaluating the Borrower's credit worthiness. The Direct Guarantee Lender must analyze the Borrower's credit history and payment pattern to determine credit worthiness.\n(b) If a Borrower had a previous default on a Section 184 Guaranteed Loan which resulted in a Claim payment by HUD, the Borrower shall be subject to a 7-year waiting period or other period as may be prescribed by Section 184 Program Guidance.","path":["Title 24—Housing and Urban Development","Subtitle B—Regulations Relating to Housing and Urban Development","CHAPTER IX—OFFICE OF ASSISTANT SECRETARY FOR PUBLIC AND INDIAN HOUSING, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT","PART 1005—LOAN GUARANTEES FOR INDIAN HOUSING","Subpart D—Underwriting"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-24.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:55Z","sha256":"96ee2c679cf51b146d18fef650272e1da77b9adfde202f6105978814d9c7450b","source_id":"us-cfr","stale":true,"prev":"us/24-cfr-1005.407","next":"us/24-cfr-1005.411"},"notice":"GroundRules: Original legal text. Not legal advice."}