WAIS Document Retrieval[Code of Federal Regulations]
[Title 24, Volume 2, Parts 200 to 499]
[Revised as of April 1, 2000]
From the U.S. Government Printing Office via GPO Access
[CITE: 24CFR203.605]

[Page 224]
 
                 TITLE 24--HOUSING AND URBAN DEVELOPMENT
 
PART 203--SINGLE FAMILY MORTGAGE INSURANCE--Table of Contents
 
                  Subpart C--Servicing Responsibilities
 
Sec. 203.605  Loss mitigation evaluation.

    No later than when three full monthly installments due on the 
mortgage are unpaid, the mortgagee shall evaluate all of the loss 
mitigation techniques provided at Sec. 203.501 to determine which, if 
any, are appropriate, and shall reevaluate monthly thereafter. The 
mortgagee shall maintain documentation of such evaluations. Should a 
claim for mortgage insurance benefits later be filed, the mortgagee 
shall maintain this documentation in the claim file under the 
requirements of Sec. 203.365(c).

[61 FR 35019, July 3, 1996]



