24 CFR 570.706 - Federal guarantee; subrogation.

Regulations last checked for updates: Nov 22, 2024

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

View all text of Subpart M [§ 570.700 - § 570.712]

§ 570.706 - Federal guarantee; subrogation.

Section 108(f) of the Act provides for the incontestability of guarantees by HUD under subpart M of this part in the hands of a holder of such guaranteed obligations. If HUD pays a claim under a guarantee made under section 108 of the Act, HUD shall be fully subrogated for all the rights of the holder of the guaranteed debt obligation with respect to such obligation.

[61 FR 11481, Mar. 20, 1996]

authority: 12 U.S.C. 1701x,1701; 42 U.S.C. 3535(d) and 5301-5320

source: 40 FR 24693, June 9, 1975, unless otherwise noted.

cite as: 24 CFR 570.706