Can you summarize 24 CFR Part 203?
The provided legal document content pertains to the eligibility requirements and underwriting procedures for single-family mortgage insurance programs under the National Housing Act and other authorities. The documents outline the eligibility requirements and underwriting procedures for single-family mortgages, including the Direct Endorsement procedure, the Lender Insurance procedure, and the issuing of commitments through HUD offices. Mortgagees must meet certain qualifications and submit a specified number of mortgages for approval. Noncompliance may result in sanctions or termination of approval.
Can you summarize 24 CFR Part 206?
The provided legal document content pertains to the Home Equity Conversion Mortgage (HECM) Insurance program under the National Housing Act. It covers various aspects of eligibility and endorsement requirements, credit standing requirements, counseling requirements, disclosure and verification of Social Security and Employer Identification Numbers, full disclosure of costs and restrictions on use of mortgage proceeds, monetary investment requirements for the HECM for Purchase program, property eligibility criteria, property standards and repair work, eligible sale of property, refinancing of existing HECMs, and deferral of the due and payable status for Eligible Non-Borrowing Spouses in the context of HECM insurance programs.
Can you summarize 24 CFR Part 207?
The provided legal document content pertains to multifamily housing mortgage insurance under the National Housing Act and other authorities. It governs the eligibility requirements for multifamily project mortgages insured under section 207 of the National Housing Act, as outlined in 24 CFR part 200, subpart A. The document specifies the requirements for mortgagees regarding the payment of premiums at different stages of the mortgage and outlines the rights and duties of mortgagees under the contract of insurance.
Can you summarize 24 CFR Part 213?
The provided legal document content pertains to the Cooperative Housing Mortgage Insurance program under the National Housing Act. It applies to mortgages insured under section 213 of the Act and outlines the requirements and provisions related to the insurance agreement, insured mortgages, and mortgages. The document defines various terms related to the program and specifies that references to section 207 of the National Housing Act should be deemed to refer to section 213 of the Act.
Can you summarize 24 CFR Part 220?
The provided legal document content pertains to mortgage insurance and insured improvement loans for urban renewal and concentrated development areas. It governs the entities involved in mortgage and loan insurance programs under the National Housing Act and other authorities. The document does not mention any specific exemptions. However, it does not provide information about penalties for non-compliance or violation of the provisions. The document focuses on the regulations and guidelines related to mortgage insurance and insured improvement loans in the context of urban renewal and concentrated development areas.
Can you summarize 24 CFR Part 221?
The provided legal document terminates the authority to insure mortgages for low cost and moderate income mortgage insurance under section 221(d)(2) of the National Housing Act, effective February 20, 2001. However, HUD will continue to endorse for insurance validly processed mortgages under direct endorsement if the credit worksheet was signed by the mortgagee’s underwriter before February 20, 2001. The rights and obligations of insured mortgage lenders, mortgagors, and HUD with respect to section 221(d)(2) single family loans insured before February 20, 2001, or in accordance with the exemption mentioned above, will continue to be governed by Subpart A of the document as it existed before February 20, 2001.
Can you summarize 25 CFR 11.415?
A person who shall by willful misrepresentation or deceit, or by false interpreting, or by the use of false weights or measures obtain any money or other property, shall be guilty of fraud, a misdemeanor.
Can you summarize 25 CFR 11.416?
(a) A person is guilty of forgery, a misdemeanor, if, with purpose to defraud or injure anyone, or with knowledge that he or she is facilitating fraud or injury to be perpetrated by anyone, he or she: (1) Alters, makes, completes, authenticates, issues or transfers any writing of another without his or her authority; or (2) Utters any writing which he or she knows to be forged in a manner above specified.
Can you summarize 25 CFR 11.421?
(a) A person who issues or passes a check or similar sight order for the payment of money, knowing that it will not be honored by the drawee, commits a misdemeanor. (b) For the purposes of this section, an issuer is presumed to know that the check or order would not be paid, if: (1) The issuer had no account with the drawee at the time the check or order was issued; or (2) Payment was refused by the drawee for lack of funds, upon presentation within 30 days after issue, and the issuer failed to make good within 10 days after receiving notice of that refusal.
Can you summarize 25 CFR 11.422?
(a) A person commits a misdemeanor if he or she uses a credit card for the purpose of obtaining property or services with knowledge that: (1) The card is stolen or forged; or (2) The card has been revoked or cancelled; or (3) For any other reason his or her use of the card is unauthorized by the issuer. (b) Credit card means a writing or other evidence of an undertaking to pay for property or services delivered or rendered to or upon the order of a designated person or bearer.