C.F.R. » Title 24 » 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 203—SINGLE FAMILY MORTGAGE INSURANCE › Subpart A—Eligibility Requirements and Underwriting Procedures

24 C.F.R. § 203.33

Relationship of income to mortgage payments

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(a) Adequacy of mortgagor's gross income. A mortgagor must establish, to the satisfaction of the Secretary, that his or her gross income is and will be adequate to meet (1) the periodic payments required by the mortgage submitted for insurance and (2) other long-term obligations.

(b) Determinations of adequacy of mortgagor income under this section shall be made in a uniform manner without regard to race, color, religion, sex, national origin, familial status, handicap, marital status, actual or perceived sexual orientation, gender identity, source of income of the mortgagor, or location of the property.

[37 FR 16390, Aug. 12, 1972, as amended at 54 FR 38649, Sept. 20, 1989; 59 FR 59648, Nov. 18, 1994; 77 FR 5675, Feb. 3, 2012]
Notes of Decisions
Cited in 4 cases, 1976–2005 · leading case: United States v. Harry Bernstein, 533 F.2d 775 (2d Cir. 1976).
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United States v. Harry Bernstein, 533 F.2d 775 (2d Cir. 1976). “11 that the mortgage payments are within his means, 24 C.F.R. §§ 203.33 , 203.34, 221.1. That form specifically requires a certificate by the mortgagee that “all information in the application is true and complete to the best of its knowledge and belief.”
Consum. Prot. Div. v. Morgan, 874 A.2d 919 (Md. 2005). “24 C.F.R. § 203.33 (2004); 24 C.F.R. § 203.”
United States v. John P. Moscony, 927 F.2d 742 (3rd Cir. 1991). “20(a); and (3) the buyer must have an income sufficient to make the mortgage reasonably sound to insure, 24 C.F.R. §§ 203.33 , 221.60(e). Information regarding the buyer’s compliance with these requirements, and other buyer-related information, is in part received by the FHA on…”
Pankow Constr. Co. v. Advance Mortg. Corp., 618 F.2d 611 (9th Cir. 1980). “, 24 C.F.R. §§ 203.33 , 203.34, 221.50, 221.”
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