Sec.

200.92 200.93

200.94

200.95

200.96

200.97

200.98

Structural Defects Committee. Multifamily Participation Review Committee.

Loan Assistance Committee. MISCELLANEOUS DELEGATIONS Field Office Chiefs of Operations and Assistants to the Directors. Field Office Directors, Deputy Directors and Assistant Directors; and Director, Multifamily Housing Insuring Office (New York). Assistant Commissioner for Field Operations and Deputy; Assistant Commissioner for Home Mortgages and Deputy; Assistant Commissioner for Property Improvement and Deputy; and the Assistant Commissioner for Multifamily Housing and Deputy and Division Directors under their supervision.

Chief Underwriter and Deputy, Chief Mortgage Credit Examiner and Deputy, Chief Appraiser and Deputy, Commitment Appraiser, and Commitment Mortgage Credit Examiner.

200.150

200.151

200.152

200.153

INSURANCE ENDORSEMENT

Request for endorsement.
Final review.

Endorsement for insurance.

CLAIMS FOR LOSSES Presentation of claim.

200.105 Personnel Security Officer and Deputy. 200.106 Assistant Commissioner for Field Operations and Deputy; HUD Regional Administrators and Assistant Regional Administrators for FHA; Directors, Deputy Directors, Assistant Directors, Administrative Officers, Chief Clerks, and Service Office Supervisors in FHA Field Offices; and Assistant Comissioner for Administration and Deputy.

200.107 National emergency.

200.108

Director Management and Operations Assistance Division and Deputy.

200.109 Regional Administrators, Deputy Regional Administrators, and the Assistant Regional Administrator, Region VIII (Denver), Housing Production and Mortgage Credit. 200.110 Chief, Valuation Section, and Commitment Appraiser.

200.111 Chief, Mortgage Credit Section, and Commitment Mortgage Credit Examiner.

200.156 200.157

Settlement of claims.

Provisions and characteristics of debentures.

200.158 Applicability of Treasury regulations to debenture transactions. 200.159 Relief on account of lost, stolen, destroyed, mutilated or defaced debentures.

200.160 Redemption of debentures prior to

maturity.

200.161 Administration of debenture trans

200.112 Chief, Finance and Mortgage Credit

Section.

200.113 Assistant Director for Technical

Services.

200.114 Assistant Director for Single Family Mortgage Insurance.

Notice to borrower.

DISBURSEMENT

200.172 Disbursement of proceeds to dealer. 200.173 Disbursement of proceeds to bor

rower.

200.171

Sec.

200.505 Nature of defect.

200.507 Eligibility requirements. 200.510 Type of assistance.

200.512

Subrogation by mortgagor.

200.515 Right and finality of determination

Subparts L-Q [Reserved]

Subpart R-Claims Collection Standards 200.900 General collection standards. 200.905 Collection of title I accounts.

AUTHORITY: The provisions of this Part 20 issued under sec. 2, 48 Stat. 1246, as amende sec. 211, 52 Stat. 23, as amended, sec. 607, 5 Stat. 61, as amended, sec. 712, 62 Stat. 128 as amended, sec. 907, 65 Stat. 301, as amend ed, sec. 807, 69 Stat. 651, as amended; U.S.C. 1703, 1715b, 1742, 1747k, 1748f, 1750

Subpart A-Origin and Establishmen § 200.1

Creation.

The Federal Housing Administratio is an organizational unit within the De partment of Housing and Urban Deve opment.

[31 F.R. 7743, June 1, 1966] § 200.3 Purpose.

The Federal Housing Administratio was established to encourage improv ment in housing standards and cond tions, to provide an adequate home f nancing system by insurance of housin mortgages and credit, and to exert stabilizing influence on the mortgag market.

[26 F.R. 7380, Aug. 12, 1961]

§ 200.4 Meaning of term "Commi sioner".

Effective January 18, 1966, the ter "Commissioner," as used in this chapte shall have the following meaning:

(a) Where the term appears in con nection with the conveyance or assign ment of real or personal property, it sha be deemed to refer to the Secretary o Housing and Urban Development.

(b) Where the term appears in connection with instances other than set forth in paragraph (a) of this section, it shall be deemed to refer to the Federal Housing Commissioner acting on behalf of the Secretary of Housing and Urban Development.

(31 F.R. 816, Jan. 21, 1966]

Subpart B-Functions and Programs IN GENERAL

$200.5 Scope and nature of programs.

The Federal Housing Administration does not make loans or build housing but operates insurance programs under the provisions of the National Housing Act. The FHA provides insurance for private lenders against loss on mortgages financing homes, multifamily projects, land development projects, and group practice facilities projects and against loss on loans for property improvements. It also provides insurance of yields on investments in rental housing projects. All mortgage and loan transactions must be acceptable to the Commissioner. The various insurance programs are outlined in §§ 200.10 through 200.39, and more particularly described in other parts of this chapter.

(32 F.R. 15637, Nov. 10, 1967]

§ 200.6 Application for lender approval. An application for approval, as a mortgagee, as a loan correspondent or as a Title I lending institution is submitted on an appropriate form prescribed by the Commissioner. These forms may be obtained from any local FHA insuring office or from the Headquarters Office in Washington, D.C. When fully executed the form is submitted to the insuring office having jurisdiction for transmittal to the Headquarters Office, Washington, D.C. [26 F.R. 7380, Aug. 12, 1961]

$ 200.7 Forms for mortgage and loan insurance.

Forms and instructions for obtaining assistance under each of the various FHA mortgage and loan insurance programs may be obtained from any FHA insuring office. When fully executed, forms are submitted to the insuring office having jurisdiction of the area where the property is located and for which insurance assistance is requested. [32 F.R. 15637, Nov. 10, 1967]

HOME MORTGAGE INSURANCE

§ 200.10 One- to four-family homes.

(a) The FHA insures mortgages on one- to four-family dwellings. The maximum mortgage cannot exceed the lesser of a dollar amount (which varies depending upon whether the residence is one-, two-, three- or four-family) and an amount computed under a statutory formula based on the ratio the loan bears to the appraised value of the property.

(b) The basic home mortgage insurance program is authorized under Title II, section 203(b) of the National Housing Act and governed by regulations contained in Part 203 of this chapter. [26 F.R. 7380, Aug. 12, 1961, as amended at 32 F.R. 15637, Nov. 10, 1967]

§ 200.11 Disaster damage to homes.

(a) The FHA insures mortgages given to finance the replacement of homes destroyed or extensively damaged by major disasters. The maximum mortgage cannot exceed the lesser of a dollar amount and an amount computed under a statutory formula based on the ratio the loan bears to the appraised value of the property.

(b) This program is authorized under Title II, section 203 (h) of the National Housing Act and governed by regulations contained in Part 203 of this chapter.

[26 F.R. 7380, Aug. 12, 1961, as amended at 32 F.R. 15637, Nov. 10, 1967]

§ 200.12 Suburban and farm homes.

(a) The FHA insures mortgages on single-family owner-occupied homes located in sparsely populated nonurban areas and farm areas. The land on which the house is located must be adjacent to a public highway. The maximum mortgage cannot exceed the lesser of a dollar amount and an amount computed under a statutory formula based on the ratio the loan bears to the appraised value of the property.

(b) This program is authorized under Title II, section 203 (i) of the National Housing Act and governed by regulations contained in Part 203 of this chapter. [26 F.R. 7380, Aug. 12, 1961, as amended at 32 F.R. 15637, Nov. 10, 1967]

§ 200.13 Homes for servicemen.

(a) The FHA insures mortgages on single-family dwellings owned and occupied by servicemen on active duty with