[Code of Federal Regulations]

[Title 24, Volume 1]

[Revised as of April 1, 2006]

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

[CITE: 24CFR27.3]



[Page 295]

 

                 TITLE 24--HOUSING AND URBAN DEVELOPMENT

 

PART 27_NONJUDICIAL FORECLOSURE OF MULTIFAMILY AND SINGLE FAMILY MORTGAGES

--Table of Contents

 

       Subpart A_Nonjudicial Foreclosure of Multifamily Mortgages

 

Sec.  27.3  Definitions.



    The definitions contained in the Act (at 12 U.S.C. 3702) shall apply 

to this subpart, in addition to and as further clarified by the 

following definitions. As used in this subpart:

    General Counsel means the General Counsel of the Department of 

Housing and Urban Development;

    Multifamily mortgage does not include a mortgage covering a property 

on which there is located a one- to four-family residence, except when 

the one- to four-family residence is subject to a mortgage pursuant to 

section 202 of the Housing Act of 1959 (12 U.S.C. 1701q), or section 811 

(42 U.S.C. 8013) of the National Affordable Housing Act. The definition 

of multifamily mortgage also includes a mortgage taken by the Secretary 

in connection with the previous sale of the project by the Secretary 

(purchase money mortgage).