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 221—LOW COST AND MODERATE INCOME MORTGAGE INSURANCE—SAVINGS CLAUSE › Subpart B—Contract Rights and Obligations—Low Cost Homes

24 C.F.R. § 221.251

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(a) All of the provisions of subpart B, part 203 of this chapter covering mortgages insured under section 203 of the National Housing Act apply to mortgages covering one- to four-family dwellings insured under section 221 of the National Housing Act, except the following provisions:

Sec. 203.258 Substitute mortgagors. 203.259a Scope. 203.260 Amount of Mortgage Insurance Premium (MIP). 203.261 Calculation of MIP. 203.262 Due date of MIP. 203.264 Payment of MIP. 203.266 Period covered by MIP. 203.268 Pro rata payment of MIP. 203.280 One-time MIP. 203.281 Calculation of one-time MIP. 203.282 Mortgagee's late charge and interest. 203.283 Refund of one-time MIP. 203.288 Discontinuance of adjusted premium charge. 203.295 Voluntary termination of insurance. 203.389 Waived title objections. 203.400 Method of payment. 203.420 Nature of Mutual Mortgage Insurance Fund. 203.421 Allocation of Mutual Mortgage Insurance Fund income or loss. 203.422 Right and liability under Mutual Mortgage Insurance Fund. 203.423 Distribution of distributive shares. 203.424 Maximum amount of distributive shares. 203.425 Finality of determination. 203.436 Claim procedure—graduated payment mortgages. 203.438 Mortgages on Indian land insured pursuant to section 248 of the National Housing Act. 203.439 Mortgages on Hawaiian home lands insured pursuant to section 247 of the National Housing Act. 203.439a Mortgages on property in Allegany Reservation of Seneca Nation of Indians authorized by section 203(q) of the National Housing Act.

(b) For the purposes of this subpart, all references in part 203 of this chapter to section 203 of the Act shall be construed to refer to section 221 of the Act, and all references to the Mutual Mortgage Insurance Fund shall be construed to refer to the General Insurance Fund.

[36 FR 24587, Dec. 22, 1971, as amended at 37 FR 8663, Apr. 29, 1972; 41 FR 42949, Sept. 29, 1976; 42 FR 29304, June 8, 1977; 47 FR 30754, July 15, 1982; 48 FR 28807, June 23, 1983; 51 FR 21874, June 16, 1986; 52 FR 8069, Mar. 16, 1987; 52 FR 28470, July 30, 1987; 52 FR 48204, Dec. 21, 1987; 53 FR 9869, Mar. 28, 1988; 55 FR 34810, Aug. 24, 1990; 61 FR 37801, July 19, 1996]
Notes of Decisions
Cited in 2 cases, 1977–1981 · leading case: United States v. Am. Nat'l Bank & Trust Co. of Chicago, 443 F. Supp. 167 (N.D. Ill. 1977).
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United States v. Am. Nat'l Bank & Trust Co. of Chicago, 443 F. Supp. 167 (N.D. Ill. 1977). “…§ 200.40 . 3 . These regulations are incorporated by reference into the regulations governing Section 221 mortgages. 24 C.F.R. §§ 221.251 , 221.751.”
Berks Prods. Corp. v. Landreau, 523 F. Supp. 304 (E.D. Pa. 1981). “24 C.F.R. §§ 221.251 to 325. At least one court has held that, under the National Housing Act, HUD assumes no obligation to any party except the mortgagee.”
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