24 CFR 203.268 - Pro rata payment of periodic MIP.

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There are 3 Updates appearing in the Federal Register for 24 CFR 203. View below or at eCFR (GPOAccess)
§ 203.268 Pro rata payment of periodic MIP.
(a) If the insurance contract is terminated before the due date of the initial MIP, the mortgagee shall pay a portion of the MIP prorated from the beginning of amortization, as defined in § 203.251, to the date of termination.
(b) If the insurance contract is terminated after the due date of the initial MIP, the mortgagee shall pay a portion of the current annual MIP prorated from the due date of the last annual MIP to the date of termination.
(c) A pro rata MIP shall not be due or payable where the mortgagee notifies the Commissioner that foreclosure or other action to acquire the property has been completed and that the property will not be conveyed to the Commissioner in exchange for insurance benefits. Any MIP due and paid after the institution of foreclosure or the date the property was otherwise acquired by the mortgagee will be refunded to the mortgagee upon receipt by the Commissioner of the notice from the mortgagee that the property will not be conveyed to the Commissioner.
[48 FR 28805, June 23, 1983, as amended at 61 FR 37801, July 19, 1996]

Title 24 published on 2014-04-01

The following are only the Rules published in the Federal Register after the published date of Title 24.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2014-11-03; vol. 79 # 212 - Monday, November 3, 2014
    1. 79 FR 65140 - HUD's Qualified Mortgage Rule: Announcement of Intention To Adopt Changes Pertaining to Exempted Transaction List
      GPO FDSys XML | Text
      DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, HUD, Office of the Assistant Secretary for Housing—Federal Housing Commissioner
      Announcement of change to HUD's exempted transaction definition.
      Effective Date: November 3, 2014.
      24 CFR Part 203

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United States Code

Title 24 published on 2014-04-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 24 CFR 203 after this date.

  • 2014-11-03; vol. 79 # 212 - Monday, November 3, 2014
    1. 79 FR 65140 - HUD's Qualified Mortgage Rule: Announcement of Intention To Adopt Changes Pertaining to Exempted Transaction List
      GPO FDSys XML | Text
      DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, HUD, Office of the Assistant Secretary for Housing—Federal Housing Commissioner
      Announcement of change to HUD's exempted transaction definition.
      Effective Date: November 3, 2014.
      24 CFR Part 203