24 CFR 200.81 - Disbursement of mortgage proceeds.

Regulations last checked for updates: Feb 16, 2025

Title 24 - Housing and Urban Development last revised: Feb 11, 2025

§ 200.81 - Disbursement of mortgage proceeds.

The mortgagee shall be obligated, as a part of the mortgage transaction, to disburse the principal amount of the mortgage to the:

(a) Mortgagor or mortgagor's account;

(b) Mortgagor's creditors for the mortgagor's account, subject to the mortgagor's consent.

authority: 12 U.S.C. 1702-1715z-21; 42 U.S.C. 3535(d)

source: 36 FR 24467, Dec. 22, 1971, unless otherwise noted.

cite as: 24 CFR 200.81