24 CFR 203.209 - Payments under a plan.

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§ 203.209 Payments under a plan.
(a) If a Plan issuer or insurance backer elects to compensate a homeowner for damage suffered by the homeowner's property that is covered under a Plan in lieu of the Plan issuer's making repairs such compensation must be made jointly to the mortgagee and the homeowner.
(b) If payment is to be made to the mortgagee and homeowner, the Plan issuer first must receive the mortgagee's assurance in witing that the mortgagee is satisfied, based on a showing by the homeowner, that the homeowner has made a binding commitment to have the necessary repairs made to restore the damaged property. It a homeowner elects not to repair his or her damaged property, then the mortgagee must apply the compensation in reduction of the outstanding indebtedness of the mortgage.

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.

  • 2015-02-17; vol. 80 # 31 - Tuesday, February 17, 2015
    1. 80 FR 8243 - HUD's Qualified Mortgage Rule: Annual Threshold Adjustments to the Points and Fees Limit
      GPO FDSys XML | Text
      DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, HUD, Office of the Assistant Secretary for Housing—Federal Housing Commissioner
      Announcement of HUD's qualified mortgage rule's annual threshold adjustments.
      Effective Date: February 17, 2015.
      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 Part 203 after this date.

  • 2015-02-20; vol. 80 # 34 - Friday, February 20, 2015
    1. 80 FR 9253 - Federal Housing Administration (FHA): Standardizing Method of Payment for FHA Insurance Claims
      GPO FDSys XML | Text
      DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, HUD, Office of the Assistant Secretary for Housing-Federal Housing Commissioner
      Proposed rule.
      Comment Due Date: April 21, 2015.
      24 CFR Parts 203, 207, 220, 221, 232, 235, 236 and 241