As used in this subpart:
(a) The term Commissioner means the Federal Housing Commissioner.
(b) The term act means the National Housing Act, as amended.
(c) The term mortgage means such a first lien upon real estate and other property as is commonly given to secure advances on, or the unpaid purchase price of, real estate under the laws of the State, district or territory in which the real estate is located, together with the credit instrument or instruments, if any, secured thereby. In any instance where an operating loss loan is involved, the term shall include both the original mortgage and the instrument securing the operating loss loan.
(d) The term insured mortgage means a mortgage which has been insured by the endorsement of the credit instrument by the Commissioner, or his duly authorized representative.
(e) The term contract of insurance means the agreement evidenced by such endorsement and includes the terms, conditions and provisions of this part and of the National Housing Act.
(f) The term mortgagor means the original borrower under a mortgage and its successors and such of its assigns as are approved by the Commissioner.
(g) The term mortgagee means the original lender under a mortgage its successors and such of its assigns as are approved by the Commissioner, and includes the holders of the credit instruments issued under a trust indenture, mortgage or deed of trust pursuant to which such holders act by and through a trustee therein named.
Notes of Decisions
Aetna Cas. & Sur. Co. v. United States, 228 Ct. Cl. 146 (Ct. Cl. 1981).
· cites it 3× “First, the regulations governing section 236 projects contain their own definition of mortgagee in 24 C.F.R. § 207.251 (g): (g) The term "mortgagee” means the original lender under a mortgage, its successors and such of its assigns as are approved by the Commissioner, and…”
Manhattan Sav. Bank v. United States, 214 Ct. Cl. 599 (Ct. Cl. 1977).
· cites it 2× “Plaintiff aiso argues that since 24 C.F.R. § 207.251 (g) defines "mortgagee” to include "the original lender * * * and such of its assigns as are approved by the Commissioner,” and since 24 C.”
Diamond v. United States, 228 Ct. Cl. 493 (Ct. Cl. 1981).
“24 C.F.R. § 207.251 (e) (1973). This "initial” endorsement binds HUD to insure amounts advanced by the lender during the construction phase.”
Am. Fid. Fire Ins. v. Construcciones Werl, Inc., 407 F. Supp. 164 (D.V.I. 1975).
“§§ 1707 , 1713(a) and 1715z-l(j) (2) (C), and the regulations issued thereunder, to wit: 24 C.F.R. §§ 207.251 (g) and 236.251. 10 The regulations themselves provide that they shall be considered a part of any and all building loan agreements.”
Travelers Indem. Co. v. First Nat'l State Bank, 328 F. Supp. 208 (D.N.J. 1971).
“§ 1707(b) and 24 C.F.R. § 207.251 (g). Title 12 U.S.C. § 1707 (b) provides: “The term ‘mortgagee’ includes the original lender under a mortgage, and his successors and assigns approved by the Secretary; and the term ‘mortgagor’ includes the original borrower under the mortgage…”
Morville House, Inc. v. Comm'r of Corporations & Taxation, 344 N.E.2d 878 (Mass. 1976).
“251 (1972) with 24 C.F.R. § 207.251 et seq. (1972). Finally, as we have mentioned previously, the regulations dealing specifically with the “interest reduction payments” refer to the “interest reduction payment contract between the mortgagee and the [FHA] Commissioner” which is…”
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