PART 221—LOW COST AND MODERATE INCOME MORTGAGE INSURANCE—SAVINGS CLAUSE›Subpart D—Contract Rights and Obligations—Moderate Income Projects
§ 221.780 Issuance of debentures.
24 C.F.R. Parts 207 & 221 — FHA Multifamily Mortgage Insurance (Sec. 207 rental housing; Sec. 221(d) moderate-income housing) · 2026 edition · updated 2026-07-29 · United States
Upon the exercise of the assignment option and the satisfactory performance of the requirements as to assignment set out in § 207.258 of this chapter, the Commissioner shall issue the assignor mortgagee debentures having a total par value equal to the amount of the original principal obligation of the mortgage which was unpaid on the date of the assignment, plus accrued interest to such date.
[59 FR 49816, Sept. 30, 1994]
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