C.F.R. » Title 24 » CHAPTER II—OFFICE OF ASSISTANT SECRETARY FOR HOUSING—FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT › SUBCHAPTER A—GENERAL › PART 200—INTRODUCTION TO FHA PROGRAMS › Subpart A—Requirements for Application, Commitment, and Endorsement Generally Applicable to Multifamily and Health Care Facility Mortgage Insurance Programs; and Continuing Eligibility Requirements for Exi…

24 C.F.R. § 200.50

Building loan agreement

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The mortgagor and mortgagee must execute a building loan agreement approved by the Commissioner, that sets forth the terms and conditions under which progress payments may be advanced during construction, before initial endorsement of the mortgage for insurance.

Notes of Decisions
Cited in 2 cases, 1992–2005 · leading case: United States v. Flake, 783 F. Supp. 762 (E.D.N.Y 1992).
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United States v. Flake, 783 F. Supp. 762 (E.D.N.Y 1992). · cites it 2× “§ 1701c and 24 CFR § 200.50 permitted the Secretary to “delegate any of his functions, powers, and duties to such officers and employees of the Department- as he may designate.”
C.D. Barnes Assocs., Inc. v. Grand Haven Hideaway Ltd. P'ship, 406 F. Supp. 2d 801 (W.D. Mich. 2005). “For example, HUD analyzes the economic viability of the particular construction project based upon market demand prior to issuing a commitment; requires the mortgagor and mortgagee to enter into various agreements specifying the terms and conditions for disbursement of the…”
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