TITLE 24 - HOUSING AND URBAN DEVELOPMENT

SUBTITLE B - REGULATIONS RELATING TO HOUSING AND URBAN DEVELOPMENT

CHAPTER II - OFFICE OF ASSISTANT SECRETARY FOR HOUSING - FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

SUBCHAPTER A - GENERAL

PART 200 - INTRODUCTION TO FHA PROGRAMS

subpart a - REQUIREMENTS FOR APPLICATION, COMMITMENT, AND ENDORSEMENT GENERALLY APPLICABLE TO MULTIFAMILY AND HEALTH CARE FACILITY MORTGAGE INSURANCE PROGRAMS; AND CONTINUING ELIGIBILITY REQUIREMENTS FOR EXISTING PROJECTS

200.105 - Mortgagor supervision.

  (a) As long as the Commissioner is the insurer or holder of the mortgage, the Commissioner shall regulate the mortgagor by means of a regulatory agreement providing terms, conditions and standards established by the Commissioner, or by such other means as the Commissioner may prescribe.

  (b) The Commissioner may delegate to the mortgagee or other party the Commissioner's authority, in whole or in part, in accordance with the terms, conditions and standards established by the Commissioner in any executed Regulatory Agreement or other instrument granting the Commissioner supervision of the mortgagor.

[61 FR 14399, Apr. 1, 1996, as amended at 65 FR 61074, Oct. 13, 2000]