[Code of Federal Regulations]

[Title 24, Volume 2]

[Revised as of April 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 24CFR203.43e]



[Page 173]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

 CHAPTER II--OFFICE OF ASSISTANT SECRETARY FOR HOUSING--FEDERAL HOUSING 

        COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

 

PART 203_SINGLE FAMILY MORTGAGE INSURANCE--Table of Contents

 

     Subpart A_Eligibility Requirements and Underwriting Procedures

 

Sec.  203.43e  Eligibility of mortgages covering houses in federally 

impacted areas.



    (a) A mortgage executed in connection with the construction, repair, 

rehabilitation or purchase of property located near any installation of 

the Armed Forces of the United States in federally impacted areas shall 

be eligible for insurance pursuant to this part if the Secretary finds 

the following additional requirements are met;

    (1) The benefits to be derived from such use outweigh the risk of 

probable cost to the Government; and

    (2) The Secretary of Defense certifies that there is no intention to 

curtail substantially the personnel assigned or to be assigned to such 

installation.

    (b) Mortgages complying with the requirements of this section shall 

be insured under this subpart pursuant to section 238(c) of the National 

Housing Act. Such mortgages shall be insured under and be the obligation 

of the Special Risk Insurance Fund.



[42 FR 57434, Nov. 2, 1977]



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