[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR337.8]

[Page 232]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY
 
PART 337--SUPPLEMENTAL REGULATIONS GOVERNING FEDERAL HOUSING ADMINISTRATION DEBENTURES--Table of Contents
 
                   Subpart A--Certificated Debentures
 
Sec. 337.8  Payment of mortgage insurance premiums.

    When certificated debentures are tendered for purchase prior to 
maturity in order that the proceeds thereof be applied to pay for 
mortgage insurance premiums, any difference between the amount of the 
debentures purchased and the amount of the mortgage insurance premium 
will generally be issued to the owner in the form of a book-entry 
debenture in the exact amount of such difference, provided it is one 
dollar ($1.00) or more. However, if the owner so requests, such 
difference will be settled with certificated debenture(s), together with 
a cash adjustment, if any. Such request should be made in writing, 
before the book-entry debenture in the amount of the difference is 
issued.