Laws and Regulations

Office of Assistant Secretary for Housing, HUD
Subpart B—Contract Rights and
Obligations
231.251

Pt. 232

Subpart C—Eligibility Requirements—Supplemental Loans to Finance Purchase
and Installation of Fire Safety Equipment

Cross-reference.

AUTHORITY: 12 U.S.C. 1715b, 1715v; 42 U.S.C.
3535(d).

232.500

Definitions.

232.505
232.510
232.515
232.520
er.
232.522

Application and application fee.
Commitment and commitment fee.
Refund of fees.
Maximum fees and charges by lend-

FEES AND CHARGES
SOURCE: 36 FR 24615, Dec. 22, 1971, unless
otherwise noted.

Subpart A—Eligibility
Requirements
§ 231.1

Eligibility requirements.

ELIGIBLE SECURITY INSTRUMENTS

The requirements set forth in 24 CFR
part 200, subpart A, apply to multifamily project mortgages insured under
section 231 of the National Housing Act
(12 U.S.C. 1715v), as amended.
[61 FR 14406, Apr. 1, 1996]

Subpart B—Contract Rights and
Obligations
§ 231.251

Cross-reference.

(a) All of the provisions of part 207,
subpart B of this chapter covering
mortgages insured under section 207 of
the National Housing Act apply to
mortgages insured under section 231 of
such Act.
(b) For the purposes of this subpart
all references in part 207 of this chapter
to section 207 of the Act shall be construed to refer to section 231 of the
Act.

PART 232—MORTGAGE INSURANCE FOR NURSING HOMES, INTERMEDIATE CARE FACILITIES,
BOARD AND CARE HOMES, AND
ASSISTED LIVING FACILITIES
Subpart A—Eligibility Requirements
Sec.
232.1
232.2
232.3

232.525 Note and security form.
232.530 Disbursement of proceeds.
232.535 Loan multiples—minimum principal.
232.540 Method of loan payment and amortization period.
232.545 Covenant against liens.
232.550 Accumulation of next premium.
232.555 Security instrument and lien.
232.560 Interest rate.
232.565 Maximum loan amount.
232.570 Endorsement of credit instrument.
232.580 Application of payments.
232.585 Prepayment privilege and prepayment charge.
232.586 Minimum principal loan amount.
PROPERTY REQUIREMENTS
232.590
232.591

Eligibility of property.
Smoke detectors.
TITLE

232.595 Eligibility of title.
232.600 Title evidence.
FORM OF CONTRACT
232.605

Contract requirements.

COST CERTIFICATION REQUIREMENTS
232.610

Certification of cost requirements.
ELIGIBLE BORROWERS

232.615 Eligible borrowers.
232.616 Disclosure and verification of Social
Security and Employer Identification
Numbers.
SPECIAL REQUIREMENTS

Eligibility requirements.
License.
Bathroom.

232.620 Determination of compliance
HHS.
232.625 Discrimination prohibited.
232.630 Assurance of completion.

Subpart B—Contract Rights and
Obligations
232.251
232.252

Inspection fee.

Subpart D—Contract Rights and
Obligations

Cross-reference.
Definitions.

232.800

Definitions.

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§ 232.1

24 CFR Ch. II (4–1–04 Edition)
PREMIUMS

232.805 Insurance premiums.
232.805a Mortgagee’s late charge.
232.815 Termination of insurance.
232.825 Pro rata refund of insurance premium.
RIGHTS AND DUTIES OF LENDER UNDER THE
CONTRACT OF INSURANCE
232.830 Definition of default.
232.840 Date of default.
232.850 Notice of default.
232.860 Commissioner’s right to require acceleration.
232.865 Election by lender.
232.875 Maximum claim period.
232.880 Items to be delivered on submitting
claim.
232.885 Insurance benefits.
232.890 Characteristics of debentures.
232.893 Cash adjustment.

municipality or other political subdivision in which the facility is or is to be
located, and the appropriate agency for
such jurisdiction provides a license,
certificate or other assurances the
Commissioner
considers
necessary,
that the facility complies with any applicable State or local standards and
requirements for such facility.
§ 232.3

Subpart B—Contract Rights and
Obligations

ASSIGNMENTS
232.895

Assignment of insured loans.

§ 232.251

EXTENSION OF TIME
232.897

Bathroom.

Not less than one full bathroom must
be provided for every four residents of
a board and care home or assisted living facility, and bathroom access from
any bedroom or sleeping area must not
pass through a public corridor or area.

Actions to be taken by lender.

Subpart E—Insurance of Mortgages
Covering Existing Projects
232.901 Mortgages covering existing projects
are eligible for insurance.
232.902 Eligible project.
232.903 Maximum mortgage limitations.
232.904 Terms of the mortgage.
232.905 Labor standards and prevailing wage
requirements.
232.906 Processing of applications and required fees.
AUTHORITY: 12 U.S.C. 1715b, 1715w; 42 U.S.C.
3535(d).
SOURCE: 36 FR 24618, Dec. 22, 1971, unless
otherwise noted.

Subpart A—Eligibility
Requirements
SOURCE: 61 FR 14406, Apr. 1, 1996, unless
otherwise noted.

§ 232.1 Eligibility requirements.
The requirements set forth in 24 CFR
part 200, subpart A, apply to multifamily project mortgages insured under
section 232 of the National Housing Act
(12 U.S.C. 1715w), as amended.
§ 232.2 License.
The Commissioner shall not insure
any mortgage under this part unless
the facility is regulated by the State,

Cross-reference.

(a) All of the provisions, except
§ 207.258b, of part 207, subpart B of this
chapter relating to mortgages insured
under section 207 of the National Housing Act, apply to mortgages insured
under section 232 of the Act.
(b) For the purposes of this subpart
all references in part 207 of this chapter
to section 207 of the Act shall be construed to refer to section 232 of the
Act.
[36 FR 24618, Dec. 22, 1971, as amended at 50
FR 38787, Sept. 25, 1985]

§ 232.252

Definitions.

All of the definitions contained in
§ 232.1 shall apply to this subpart. In addition, as used in this part, the following term shall have the meaning indicated:
(a) Contract of insurance means the
agreement evidenced by the Commissioner’s insurance endorsement and includes the provisions of this subpart
and of the Act.

Subpart
C—Eligibility
Requirements—Supplemental Loans
to Finance Purchase and Installation of Fire Safety Equipment
SOURCE: 39 FR 28966, Aug. 12, 1974, unless
otherwise noted.

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