24 CFR § 203.473 - Claim procedure.
---
identifier: "/us/cfr/t24/s203.473"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "24 CFR § 203.473 - Claim procedure."
title_number: 24
title_name: "Housing and Urban Development"
section_number: "203.473"
section_name: "Claim procedure."
chapter_name: "OFFICE OF ASSISTANT SECRETARY FOR HOUSING—FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT"
subchapter_number: "B"
subchapter_name: "MORTGAGE AND LOAN INSURANCE PROGRAMS UNDER NATIONAL HOUSING ACT AND OTHER AUTHORITIES"
part_number: "203"
part_name: "SINGLE FAMILY MORTGAGE INSURANCE"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1707, 1709, 1710, 1715b, 1715z-16, 1715u, and 1715z-21; 15 U.S.C. 1639c; 42 U.S.C. 3535(d)."
regulatory_source: "36 FR 24508, Dec. 22, 1971, unless otherwise noted."
cfr_part: "203"
---
# 203.473 Claim procedure.
(a) A claim for insurance benefits on a loan secured by a first mortgage shall be made, and insurance benefits shall be paid, as provided in §§ 203.350 through 203.414.
(b) A claim for insurance benefits on a loan secured by other than a first mortgage shall be made, and insurance benefits shall be paid, as provided in §§ 203.474 through 203.478. However, the lender may not, except with the approval of the Commissioner, proceed against the security and also make claim under the contract of insurance, but shall elect which method it desires to pursue.
[49 FR 21319, May 21, 1984, as amended at 61 FR 35019, July 3, 1996]