{"data":{"id":"us/24-cfr-206.117","jurisdiction":"us","citation":"24 CFR 206.117","heading":"General.","body":"The Commissioner is required by statute to take any action necessary to provide a borrower with funds to which the borrower is entitled under the mortgage and which the borrower does not receive because of the default of the mortgagee. The Commissioner may hold a second mortgage to secure repayment by the borrower under § 206.27(d). Where the Commissioner does not hold a second mortgage, but makes a payment to the borrower, and such payment is not reimbursed by the mortgagee, the Commissioner shall accept assignment of the first mortgage.","path":["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 206—HOME EQUITY CONVERSION MORTGAGE INSURANCE","Subpart C—Contract Rights and Obligations"],"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":"6a3a9046ef31ab077a6ac5e86903eef505a9d1a6f0d4cc69ca10867d6c68e369","source_id":"us-cfr","stale":true,"prev":"us/24-cfr-206.116","next":"us/24-cfr-206.119"},"notice":"GroundRules: Original legal text. Not legal advice."}