1. Regulations
  2. title 24
  3. chapter II
  4. part 200
  5. subpart A
  6. subjgrp 26
  7. § 200.50

View all text of Subjgrp 26 [§ 200.50 - § 200.56]

§ 200.50 - Building loan agreement.

The mortgagor and mortgagee must execute a building loan agreement approved by the Commissioner, that sets forth the terms and conditions under which progress payments may be advanced during construction, before initial endorsement of the mortgage for insurance.

AUTHORITY: 12 U.S.C. 1702-1715z-21; 42 U.S.C. 3535(d).

SOURCE: 36 FR 24467, Dec. 22, 1971, unless otherwise noted.

CITE AS: 24 CFR 200.50