24 Cfr 200.105

[Code of Federal Regulations]

[Title 24, Volume 2]

[Revised as of April 1, 2002]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR200.105]

[Page 23]

TITLE 24--HOUSING AND URBAN DEVELOPMENT

CHAPTER II--OFFICE OF ASSISTANT SECRETARY FOR HOUSING--FEDERAL HOUSING

COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

PART 200--INTRODUCTION TO FHA PROGRAMS--Table of Contents

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

Sec. 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]