Statutes, codes, and regulations
Code of Federal Regulations
Title 24 - HOUSING AND URBAN DEVELOPMENTSubtitle B - REGULATIONS RELATING TO HOUSING AND URBAN DEVELOPMENTChapter IV - OFFICE OF HOUSING AND OFFICE OF MULTIFAMILY HOUSING ASSISTANCE RESTRUCTURING, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENTPart 401 - MULTIFAMILY HOUSING MORTGAGE AND HOUSING ASSISTANCE RESTRUCTURING PROGRAM (MARK-TO-MARKET)
Subpart C - RESTRUCTURING PLAN
Section 401.471 - HUD payment of a section 541(b) claim

24 C.F.R. § 401.471

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Current through October 31, 2024
Section 401.471 - HUD payment of a section 541(b) claim

HUD will pay a section 541(b) claim from the appropriate insurance fund to the insured mortgagee on behalf of the mortgagor. The mortgagee must use the claim payment to prepay the principal balance of the insured mortgage, in whole or in part, as provided in the Restructuring Plan. All section 541(b) claims will be paid in cash. Part 207 of this title and sections 207(g) and 541(a) of the NA do not apply to a section 541(b) claim.

24 C.F.R. § 401.471