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26 rows where part_number = 213 and title_number = 24 sorted by section_id

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section_id ▼ title_number title_name chapter subchapter part_number part_name subpart subpart_name section_number section_heading agency authority source_citation amendment_citations full_text
24:24:2.1.1.2.9.1.154.1 24 Housing and Urban Development II B 213 PART 213—COOPERATIVE HOUSING MORTGAGE INSURANCE A Subpart A—Eligibility Requirements—Projects   § 213.1 Eligibility requirements. HUD     [61 FR 14405, Apr. 1, 1996] The eligibility requirements set forth in 24 CFR part 200, subpart A, apply to multifamily project mortgages insured under section 213 of the National Housing Act (12 U.S.C. 1715e), as amended.
24:24:2.1.1.2.9.2.154.1 24 Housing and Urban Development II B 213 PART 213—COOPERATIVE HOUSING MORTGAGE INSURANCE B Subpart B—Contract Rights and Obligations—Projects   § 213.251 Cross-reference. HUD     [36 FR 24553, Dec. 22, 1971, as amended at 37 FR 8662, Apr. 29, 1972] (a) All of the provisions of subpart B, part 207 of this chapter covering mortgages insured under section 207 of the National Housing Act, apply with full force and effect to mortgages insured under section 213 of the National Housing Act, except the following provisions: Sec. 207.251 Definitions. 207.252 First, second, and third premiums. 207.254 Form of endorsement. Sec. 207.251 Definitions. 207.252 First, second, and third premiums. 207.254 Form of endorsement. (b) For the purposes of this subpart, all references in part 207 of this chapter to section 207 of the National Housing Act shall be deemed to refer to section 213 of the Act, and all references in part 207 of this chapter to the General Insurance Fund shall be deemed to refer to the Cooperative Management Housing Insurance Fund in cases involving mortgages which are the obligation of the Cooperative Management Housing Insurance Fund. (c) The provisions of §§ 207.255, 207.256, 207.257, 207.261, 207.262 and 207.263 of this chapter shall apply to supplementary loans insured under section 213(j) of the Act. In connection with the foregoing provisions the terms mortgagor, mortgagee, mortgage shall be construed to mean borrower, lender, and supplementary loan, including required security instrument. (d) Where the provisions of this subpart are applicable to supplementary loans, the terms mortgagor, mortgagee, mortgage, shall be construed to mean borrower, lender, and supplementary loan, including required security instrument. (e) Where the provisions of this subpart are applicable to operating loss loans, the terms mortgagor, mortgagee and mortgage shall be construed to mean borrower, lender and operating loss loan, including required security instrument, respectively.
24:24:2.1.1.2.9.2.154.10 24 Housing and Urban Development II B 213 PART 213—COOPERATIVE HOUSING MORTGAGE INSURANCE B Subpart B—Contract Rights and Obligations—Projects   § 213.259a Premiums—mortgages insured pursuant to section 238(c) of the Act. HUD     [42 FR 59675, Nov. 18, 1977] All of the provisions of §§ 213.253 through 213.259 governing mortgage insurance premiums shall apply to mortgages insured under this subpart pursuant to section 238(c) of the Act, except that all mortgage insurance premiums due on such mortgages in accordance with §§ 213.253 through 213.259 shall be calculated on the basis of one percent.
24:24:2.1.1.2.9.2.154.11 24 Housing and Urban Development II B 213 PART 213—COOPERATIVE HOUSING MORTGAGE INSURANCE B Subpart B—Contract Rights and Obligations—Projects   § 213.260 Allowable methods of premium payment. HUD       Premiums shall be payable in cash or in debentures at par plus accrued interest. All premiums are payable in advance and no refund can be made of any portion thereof except as hereinafter provided in this part.
24:24:2.1.1.2.9.2.154.12 24 Housing and Urban Development II B 213 PART 213—COOPERATIVE HOUSING MORTGAGE INSURANCE B Subpart B—Contract Rights and Obligations—Projects   § 213.265 Modifications and consolidations. HUD     [37 FR 8662, Apr. 29, 1972] Where a mortgage covering an investor sponsored project is modified and consolidated with the mortgage of a purchasing nonprofit cooperative housing corporation or trust, it shall be deemed to be paid in full as of the date of such modification and consolidation.
24:24:2.1.1.2.9.2.154.13 24 Housing and Urban Development II B 213 PART 213—COOPERATIVE HOUSING MORTGAGE INSURANCE B Subpart B—Contract Rights and Obligations—Projects   § 213.266 Initial insurance endorsement. HUD       The Commissioner shall indicate his insurance of the mortgage or supplementary loan by endorsing the original credit instrument and identifying the section of the Act and the regulations under which the mortgage or supplementary loan is insured and the date of insurance.
24:24:2.1.1.2.9.2.154.14 24 Housing and Urban Development II B 213 PART 213—COOPERATIVE HOUSING MORTGAGE INSURANCE B Subpart B—Contract Rights and Obligations—Projects   § 213.266a Insurance fund obligations. HUD       A mortgage endorsed for insurance under section 213 of the Act shall be the obligation either of the Cooperative Management Housing Insurance Fund or of the General Insurance Fund. The determination of the applicable fund shall be governed by the following: (a) A mortgage insured under section 213(a)(1) of the Act or under section 213(a)(3) if the project has been acquired by a cooperative corporation or under section 213 (i) or (j) shall be the obligation of the Cooperative Management Housing Insurance Fund, where it has been insured pursuant to a commitment issued on or after August 10, 1965, or insured pursuant to a commitment issued prior to such date, and transferred to the Cooperative Management Housing Insurance Fund. (b) A mortgage insured under section 213(a)(2) of the Act or under section 213(a)(3) where the project has not been acquired by a cooperative corporation shall be the obligation of the General Insurance Fund. A mortgage insured prior to August 10, 1965, or insured pursuant to a commitment issued prior to such date, where the project has not been transferred to the Cooperative Management Housing Insurance Fund, shall also be the obligation of the General Insurance Fund.
24:24:2.1.1.2.9.2.154.15 24 Housing and Urban Development II B 213 PART 213—COOPERATIVE HOUSING MORTGAGE INSURANCE B Subpart B—Contract Rights and Obligations—Projects   § 213.267 Effect of insurance endorsement. HUD       From the date of initial endorsement, the Commissioner and the mortgagee or lender shall be bound by the provisions of this subpart to the same extent as if they had executed a contract including the provisions of this subpart and the applicable sections of the Act.
24:24:2.1.1.2.9.2.154.16 24 Housing and Urban Development II B 213 PART 213—COOPERATIVE HOUSING MORTGAGE INSURANCE B Subpart B—Contract Rights and Obligations—Projects   § 213.268 Final insurance endorsement. HUD       When all advances of mortgage or loan proceeds have been made and all the terms and conditions of the commitment have been complied with to the satisfaction of the Commissioner, he shall indicate on the original credit instrument the total of all advances he has approved for insurance and again endorse such instrument.
24:24:2.1.1.2.9.2.154.17 24 Housing and Urban Development II B 213 PART 213—COOPERATIVE HOUSING MORTGAGE INSURANCE B Subpart B—Contract Rights and Obligations—Projects   § 213.269 Endorsement of supplementary loans. HUD       The provisions of §§ 213.266, 213.267, and 213.268 shall apply to supplementary loans.
24:24:2.1.1.2.9.2.154.18 24 Housing and Urban Development II B 213 PART 213—COOPERATIVE HOUSING MORTGAGE INSURANCE B Subpart B—Contract Rights and Obligations—Projects   § 213.270 Supplementary loans; election of action; claims; debentures. HUD       (a) Election of action. Where a real estate mortgage, deed of trust, conditional sales contract, chattel mortgage, lien, judgement, or any other security device has been used to secure the payment of a loan made under the provisions of this section, the lender may not, except with the approval of the Commissioner, both proceed against such security and also make claim under its contract of insurance, but shall elect which method it desires to pursue. (b) Maximum claim period. Notice of intention to file claim on a form prescribed by the Commissioner shall be filed within 45 days after the lender becomes eligible for the benefits of the loan insurance, or within such later time as may be agreed upon by the Commissioner in writing. (c) Items to be filed on submitting claim. Within 30 days after the filing of the notice of intention to file claim, or within such further period as may be agreed upon by the Commissioner in writing, the lender shall file with the Commissioner: (1) The fiscal data pertaining to the loan transaction; (2) Receipts covering all disbursements as required by the fiscal data form; (3) The original note and any security instrument or instruments which shall be assigned to the Commissioner without recourse or warranty, except that the lender must warrant that no act or omission of the lender has impaired the validity and priority of such security instrument or instruments, that the security instrument or instruments, are prior to all mechanics' and materialmen's liens filed of record subsequent to the recording of such security instrument or instruments regardless of whether such liens attached prior to such recording date, and prior to all liens and encumbrances which may have attached or defects which may have arisen subsequent to the recording of such security instrument or instruments, except such liens or other matters as may be approved by the Commissioner, that the amount stated in the instrument of assignment is actually due and owing under the security instrument or instrume…
24:24:2.1.1.2.9.2.154.19 24 Housing and Urban Development II B 213 PART 213—COOPERATIVE HOUSING MORTGAGE INSURANCE B Subpart B—Contract Rights and Obligations—Projects   § 213.275 Nature of the Cooperative Management Housing Insurance Fund. HUD       The Cooperative Management Housing Insurance Fund shall consist of the General Surplus Account and the Participating Reserve Account.
24:24:2.1.1.2.9.2.154.2 24 Housing and Urban Development II B 213 PART 213—COOPERATIVE HOUSING MORTGAGE INSURANCE B Subpart B—Contract Rights and Obligations—Projects   § 213.252 Definitions. HUD       The definitions contained in § 213.1 shall apply to this subpart and in addition the following terms shall have the meaning indicated. (a) Contract of Insurance means the agreement evidenced by endorsement of the credit instrument by the Commissioner or his duly authorized representative and includes the terms, conditions and provisions of this subpart and of the National Housing Act. (b) Insured mortgage means a mortgage which has been insured by the endorsement of the credit instrument by the Commissioner. (c) Mortgage means such a first lien upon real estate and other property as is commonly given to secure advances on, or the unpaid purchase price of, real estate under the laws of the State, district or territory in which the real estate is located, together with the credit instrument or instruments, if any, secured thereby. In any instance where an operating loss loan is involved, the term shall include both the original mortgage and the instrument securing the operating loss loan. (d) Mortgagee means the original lender under a mortgage, its successors and such of its assigns as are approved by the Commissioner, and includes the holders of the credit instruments issued under a trust indenture, mortgage or deed of trust pursuant to which such holders act by and through a trustee therein named. (e) Mortgagor means the original borrower under a mortgage and its successors and such of its assigns as are approved by the Commissioner. (f) Project Mortgage means a blanket mortgage insured under section 213 of the Act, covering a group of not less than five single-family dwellings.
24:24:2.1.1.2.9.2.154.20 24 Housing and Urban Development II B 213 PART 213—COOPERATIVE HOUSING MORTGAGE INSURANCE B Subpart B—Contract Rights and Obligations—Projects   § 213.276 Allocation of Cooperative Management Housing Insurance Fund income or losses. HUD       For any semiannual period in which Cooperative Management Housing Insurance Fund operations shall result in a net income, or loss, the Commissioner shall allocate such net income or such loss to the General Surplus Account, to the Participating Reserve Account, or to both, as he may determine to be in accordance with sound actuarial and accounting practice. In determining net income or loss, the Commissioner shall take into consideration all income received from fees, premiums, and earnings on investments of the Fund, operating expenses, and provision for losses of the Fund.
24:24:2.1.1.2.9.2.154.21 24 Housing and Urban Development II B 213 PART 213—COOPERATIVE HOUSING MORTGAGE INSURANCE B Subpart B—Contract Rights and Obligations—Projects   § 213.277 Right and liability under the Cooperative Management Housing Insurance Fund. HUD       No mortgagor or mortgagee shall have any vested right in a credit balance in either the General Surplus Account or the Participating Reserve Account. No mortgagor or mortgagee shall be subject to any liability arising under the mutuality of the Cooperative Management Housing Insurance Fund.
24:24:2.1.1.2.9.2.154.22 24 Housing and Urban Development II B 213 PART 213—COOPERATIVE HOUSING MORTGAGE INSURANCE B Subpart B—Contract Rights and Obligations—Projects   § 213.278 Distribution of distributive share. HUD       When the contract of insurance is terminated by reason of payment in full of the mortgage or by voluntary termination approved by the Commissioner, and at such time or times prior to such termination as the Commissioner may approve, the Commissioner may distribute to a mortgagor under a mortgage that is the obligation of the Cooperative Management Housing Insurance Fund a share of the Participating Reserve Account in such manner and amount as he shall determine to be equitable and in accordance with sound actuarial and accounting practice.
24:24:2.1.1.2.9.2.154.23 24 Housing and Urban Development II B 213 PART 213—COOPERATIVE HOUSING MORTGAGE INSURANCE B Subpart B—Contract Rights and Obligations—Projects   § 213.279 Maximum amount of distributive share. HUD       In no event shall a distributive share of the Participating Reserve Account exceed the aggregate paid scheduled annual premiums of the mortgagor paid to the year of termination of the insurance or to the year of payment of the share, if paid prior to termination.
24:24:2.1.1.2.9.2.154.24 24 Housing and Urban Development II B 213 PART 213—COOPERATIVE HOUSING MORTGAGE INSURANCE B Subpart B—Contract Rights and Obligations—Projects   § 213.280 Finality of determination. HUD       The determination of the Commissioner as to the amount to be paid to any mortgagor from the Cooperative Management Housing Insurance Fund shall be final and conclusive.
24:24:2.1.1.2.9.2.154.3 24 Housing and Urban Development II B 213 PART 213—COOPERATIVE HOUSING MORTGAGE INSURANCE B Subpart B—Contract Rights and Obligations—Projects   § 213.253 Premiums upon initial endorsement. HUD       (a) Management and Sales Types and Investor Sponsored Projects. The mortgagee, upon the initial endorsement of the mortgage for insurance, shall pay to the Commissioner a first mortgage insurance premium equal to one-half of one percent of the original face amount of the mortgage. (b) Purchasing cooperatives. The provisions of paragraph (a) of this section do not apply to the mortgage or a purchasing nonprofit cooperative housing corporation or trust where such mortgage is endorsed for insurance pursuant to the sale of an Investor Sponsored Project to such purchasing nonprofit cooperative housing corporation or trust. (c) Existing Construction. The provisions of paragraph (a) of the section shall apply to a mortgage covering Existing Construction which involves insurance of advances for Commissioner approved or required repairs, improvements, alterations and additions. (d) Operating loss loans and supplementary loans. The provisions of paragraph (a) of this section shall apply to any operating loss loan and to any supplementary loan, except a supplementary loan to finance the acquisition of an existing community facility.
24:24:2.1.1.2.9.2.154.4 24 Housing and Urban Development II B 213 PART 213—COOPERATIVE HOUSING MORTGAGE INSURANCE B Subpart B—Contract Rights and Obligations—Projects   § 213.254 Premiums where first principal payment more than one year after initial endorsement. HUD       (a) Management and Sales Types and Investor Sponsored Projects. (1) If the date of the first principal payment is more than one year following the date of such initial insurance endorsement, the mortgagee, upon the anniversary of such insurance date, shall pay a second premium equal to one-half of one percent of the original face amount of the mortgage. On the date of the first principal payment, the mortgagee shall pay a third premium equal to one-half of one percent of the average outstanding principal obligation of the mortgage for the following year which shall be adjusted so as to accord with such date and so that the aggregate of the first, second and third premiums shall equal the sum of: (i) One percent of the average outstanding principal obligation of the mortgage for the year following the date of initial insurance endorsement, and (ii) One-half of one percent per annum of the average outstanding principal obligation of the mortgage for the period from the first anniversary of the date of initial insurance endorsement to one year following the date of the first principal payment. (2) If the date of the first principal payment of a mortgage is more than one year following the date of the initial insurance endorsement and the mortgage is paid in full prior to the date of such first principal payment, the first and second premiums collected shall be adjusted so that the aggregate of the two premiums shall equal the sum of: (i) One percent of the average outstanding principal obligation of the mortgage for the year following the date of the initial insurance endorsement and (ii) One-half of one percent per annum of the average outstanding principal obligation of the mortgage for the period from the first anniversary of the date of initial endorsement to the date the mortgage was paid in full. (b) Purchasing cooperatives. The provisions of paragraph (a) of this section do not apply to the mortgage of a purchasing nonprofit cooperative housing corporation or trust where such mortgage is endorsed fo…
24:24:2.1.1.2.9.2.154.5 24 Housing and Urban Development II B 213 PART 213—COOPERATIVE HOUSING MORTGAGE INSURANCE B Subpart B—Contract Rights and Obligations—Projects   § 213.255 Premiums where first principal payment one year or less after initial endorsement. HUD       (a) Management and Sales Types and Investor Sponsored Projects. (1) If the date of the first principal payment is one year, or less than one year following the date of such initial insurance endorsement, the mortgagee, upon such first principal payment date, shall pay a second premium equal to one-half of one percent of the average outstanding principal obligation of the mortgage for the following year which shall be adjusted so as to accord with such date and so that the aggregate of the first and second premiums shall equal the sum of (i) One percent per annum of the average outstanding principal obligation of the mortgage for the period from the date of initial insurance endorsement to the date of first principal payment, and (ii) One-half of one percent of the average outstanding principal obligation of the mortgage for the year following the date of the first principal payment. (2) If the date of the first principal payment of a mortgage is one year or less than one year following the date of the initial insurance endorsement and the mortgage is paid in full prior to the date of such first principal payment, the first and only premium collected shall be adjusted so that the total premium shall equal one percent per annum of the average outstanding principal obligation of the mortgage for the period from the date of initial insurance endorsement to the date the mortgage was paid in full. (b) Purchasing cooperatives. The provisions of paragraph (a) of this section do not apply to the mortgage of a purchasing nonprofit cooperative housing corporation or trust where such mortgage is endorsed for insurance pursuant to the sale of an Investor Sponsored Project to such purchasing nonprofit cooperative housing corporation or trust. (c) Existing Construction. The provisions of paragraph (a) of this section shall apply to a mortgage covering Existing Construction which involves insurance of advances for Commissioner approved or required repairs, improvements, alterations and additions. (d) Supplementary l…
24:24:2.1.1.2.9.2.154.6 24 Housing and Urban Development II B 213 PART 213—COOPERATIVE HOUSING MORTGAGE INSURANCE B Subpart B—Contract Rights and Obligations—Projects   § 213.256 Premiums; insurance upon completion. HUD       (a) Management and Sales Types and Investor Sponsored Projects. (1) Where the mortgage is initially and finally endorsed for insurance pursuant to a Commitment to Insure Upon Completion, the mortgagee on the date of the first principal payment shall pay a second premium equal to one-half of one percent of the average outstanding principal obligation of the mortgage for the year following such first principal payment date which shall be adjusted so as to accord with such date and so that the aggregate of the first and second premiums shall equal the sum of one-half of one percent per annum of the average outstanding principal obligation of the mortgage for the period from the date of the insurance endorsement to one year following the date of the first principal payment. (2) Where the mortgage is initially and finally endorsed for insurance pursuant to a Commitment to Insure Upon Completion and is paid in full prior to the date of the first principal payment, the first and only premium collected shall be adjusted so that the total premium shall equal one-half of one percent per annum of the average outstanding principal obligation of the mortgage for the period from the date of the insurance endorsement to the date the mortgage was paid in full. (b) Purchasing cooperatives. The provisions of paragraph (a) of this section do not apply to the mortgage of a purchasing nonprofit cooperative housing corporation or trust where such mortgage is endorsed for insurance pursuant to the sale of an Investor Sponsored Project to such purchasing nonprofit cooperative housing corporation or trust. (c) Existing Construction. The provisions of paragraph (a) of this section shall apply to Existing Construction not involving insurance of advances but involved Commissioner approved or required repairs, improvements, alterations and additions. (d) Supplementary loans; Commitment to Insure Upon Completion. The provisions of paragraphs (a) and (b) of this section shall apply to a supplementary loan endorsed for insurance pur…
24:24:2.1.1.2.9.2.154.7 24 Housing and Urban Development II B 213 PART 213—COOPERATIVE HOUSING MORTGAGE INSURANCE B Subpart B—Contract Rights and Obligations—Projects   § 213.257 Premiums; purchasing cooperatives; Existing Construction; supplementary loans to purchase existing community facility. HUD       (a) Where a mortgage is endorsed for insurance pursuant to the sale of an Investor Sponsor Project or covers Existing Construction not involving Commissioner approved or required repairs, improvements, alterations and additions, the mortgagee, on the date of the insurance endorsement, shall pay a first premium equal to one-half of one percent of the principal obligation of the mortgage for the period from the date of the insurance endorsement to one year following the date of the first principal payment. On the anniversary of the first principal payment, this first premium shall be adjusted to equal one-half of one percent of the average outstanding principal obligation of the mortgage for the period from the date of the insurance endorsement to one year following the date of the first principal payment. (b) The premium provisions of paragraph (a) of this section shall apply to a supplementary loan to purchase an existing community facility.
24:24:2.1.1.2.9.2.154.8 24 Housing and Urban Development II B 213 PART 213—COOPERATIVE HOUSING MORTGAGE INSURANCE B Subpart B—Contract Rights and Obligations—Projects   § 213.258 Subsequent annual premiums. HUD       (a) Until the mortgage is paid in full or until receipt by the Commissioner of an application for insurance benefits, or until the contract of insurance is otherwise terminated with the consent of the Commissioner, the mortgagee, on each anniversary of the date of the first principal payment, shall pay an annual mortgage insurance premium equal to one-half of one percent of the average outstanding principal obligation of the mortgage for the year following the date on which such premium becomes payable. (b) The provisions of paragraph (a) of this section shall apply to operating loss loans and to supplementary loans.
24:24:2.1.1.2.9.2.154.9 24 Housing and Urban Development II B 213 PART 213—COOPERATIVE HOUSING MORTGAGE INSURANCE B Subpart B—Contract Rights and Obligations—Projects   § 213.259 Computation of subsequent annual premiums. HUD       The premiums payable on and after the date of the first principal payment shall be calculated in accordance with the amortization provisions without taking into account delinquent payments or prepayments.
24:24:2.1.1.2.9.3.155.1 24 Housing and Urban Development II B 213 PART 213—COOPERATIVE HOUSING MORTGAGE INSURANCE C Subpart C—Individual Properties Released From Project Mortgage; Expiring Program   § 213.501 Savings clause. HUD     [61 FR 60160, Nov. 26, 1996] No new loans are being insured under the Cooperative Housing Mortgage Insurance Program for individual properties released from a project mortgage. Any existing insured loans on individual properties released from a project mortgage under this program will continue to be governed by the regulations on eligibility requirements, contract rights and obligations, and servicing responsibilities in effect as they existed immediately before December 26, 1996.

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CREATE TABLE cfr_sections (
    section_id TEXT PRIMARY KEY,
    title_number INTEGER,
    title_name TEXT,
    chapter TEXT,
    subchapter TEXT,
    part_number TEXT,
    part_name TEXT,
    subpart TEXT,
    subpart_name TEXT,
    section_number TEXT,
    section_heading TEXT,
    agency TEXT,
    authority TEXT,
    source_citation TEXT,
    amendment_citations TEXT,
    full_text TEXT
);
CREATE INDEX idx_cfr_title ON cfr_sections(title_number);
CREATE INDEX idx_cfr_part ON cfr_sections(part_number);
CREATE INDEX idx_cfr_agency ON cfr_sections(agency);
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