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 220—MORTGAGE INSURANCE AND INSURED IMPROVEMENT LOANS FOR URBAN RENEWAL AND CONCENTRATED DEVELOPMENT AREAS › Subpart D—Contract Rights and Obligations—Projects

24 C.F.R. § 220.814

Election of action

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Where a real estate mortgage, deed of trust, conditional sales contract, chattel mortgage, lien, judgment, or any other security device has been used to secure the payment of a loan made under the provisions of this section, the lender may not, except with the approval of the Commissioner, both proceed against such security and also make claim under its contract of insurance, but shall elect which method it desires to pursue.

Notes of Decisions
Cited in 3 cases (1 in the last 5 years), 2019–2024 · leading case: (UD)(PS) Setrc, LLC v. Dulay (E.D. Cal. 2024).
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(UD)(PS) Setrc, LLC v. Dulay (E.D. Cal. 2024). · cites it 3× “§ 3708 , as well as its implementing regulation 24 C.F.R. § 220.814 . (Id. at 3.) 5 Despite Defendant’s assertion, it is clear the Complaint itself contains only a single claim 6 for unlawful detainer.”
(UD)(PS) U.S. Bank Nat'l Assoc. v. Chang (E.D. Cal. 2019). “1-1, Title 24 C.F.R. 220.814.” Not. of 4 Removal at 2.”
Andina Prop. LLC v. Fox (N.D. Cal. 2019). “1 (Removal) (alleging that 17 Andina has “violated numerous Federal laws and statutes, under Title 24 C.F.R. 220.814 – 18 Election of Action, Chapter 2, Subtitle B”).”
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