24 CFR 242.2 - Program financial self-sufficiency.

Regulations last checked for updates: Nov 22, 2024

Title 24 - Housing and Urban Development last revised: Nov 13, 2024

View all text of Subpart A [§ 242.1 - § 242.15]

§ 242.2 - Program financial self-sufficiency.

The Commissioner shall administer the Section 242 program in such a way as to encourage financial self-sufficiency and actuarial soundness; i.e., to avoid mortgage defaults and claims for insurance benefits in order to protect the mortgage insurance fund.

authority: 12 U.S.C. 1709,1710,1715b,1715n,and; 42 U.S.C. 3535(d)

source: 72 FR 67546, Nov. 28, 2007, unless otherwise noted.

cite as: 24 CFR 242.2