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 B—Contract Rights and Obligations

24 C.F.R. § 203.360

Notice of property transfer or pre-foreclosure sale and application for insurance benefits

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(a) On the date the deed is filed for record the mortgagee shall notify the Commissioner on a form prescribed by him of the filing of such conveyance and shall assign, without recourse or warranty any or all claims which the mortgagee has acquired in connection with the mortgage transaction, and as a result of the foreclosure proceedings or other means by which the mortgagee acquired or conveyed such property, except such claims as may have been released with the approval of the Commissioner.

(b) Within 30 days of the closing of an approved pre-foreclosure sale, the mortgagee shall notify the Commissioner on a form prescribed by him of the pre-foreclosure sale.

[36 FR 24508, Dec. 22, 1971, as amended at 59 FR 50144, Sept. 30, 1994]
Notes of Decisions
Cited in 2 cases, 1988–2016 · leading case: JPMorgan Chase Bank, N.A. v. SFR Investments Pool 1, LLC, 200 F. Supp. 3d 1141 (D. Nev. 2016).
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JPMorgan Chase Bank, N.A. v. SFR Investments Pool 1, LLC, 200 F. Supp. 3d 1141 (D. Nev. 2016). “3d at 1184 ; 24 C.F.R. §§ 203.360 , 203.351, 203.401. If it fails to protect its interest, however, the lender loses any claim to benefits; under 24 C.”
Cole v. Sovran Mortg. Corp. (In Re Cole), 81 B.R. 326 (Bankr. E.D. Pa. 1988). “…of the Debtor in issue, insured by the Federal Housing Administration and subject to assignment to that agency. See 24 C.F.R. § 203.360 .”
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