24 CFR §221.275 — Method of paying insurance benefits
24 CFR §221.275, Method of paying insurance benefits. An FHA single family program rule in Subpart B—Contract Rights and Obligations—Low Cost Homes of 24 CFR Part 221 (Low Cost and Moderate Income Mortgage Insurance—Savings Clause).
Verbatim regulatory text
Verbatim provisions from 24 CFR §221.275 — Method of paying insurance benefits — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.
24 CFR §221.275 — Method of paying insurance benefits
If the application for insurance benefits is acceptable to the Commissioner, all of the insurance claim shall be paid in cash unless the mortgagee files a written request with the application for payment in debentures. If such a request is made, all of the claim shall be paid by issuing debentures and by making a cash payment adjusting any differences between the total amount of the claim and the amount of the debentures issued.
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Source of record: https://claudeforcompliance.com/regs/fha-24cfr-221-275/
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