Title 24, Part 206 — Home Equity Conversion Mortgage Insurance
78 sections
Section 206.1
Purpose.
Section 206.3
Definitions.
Section 206.7
Effect of amendments.
Section 206.8
Preemption.
Section 206.9
Eligible mortgagees.
Section 206.13
Disclosure of available HECM program options.
Section 206.15
Insurance.
Section 206.17
Eligible mortgages: general.
Section 206.19
Payment options.
Section 206.21
Interest rate.
Section 206.23
Shared appreciation.
Section 206.25
Calculation of disbursements.
Section 206.26
Change in payment option.
Section 206.27
Mortgage provisions.
Section 206.31
Allowable charges and fees.
Section 206.32
No outstanding unpaid obligations.
Section 206.33
Age of borrower.
Section 206.34
Limitation on number of mortgages.
Section 206.35
Title of property which is security for HECM.
Section 206.36
Seasoning requirements for existing non-HECM liens.
Section 206.37
Credit standing.
Section 206.39
Principal residence.
Section 206.40
Disclosure, verification and certifications.
Section 206.41
Counseling.
Section 206.43
Information to borrower.
Section 206.44
Monetary investment for HECM for Purchase program.
Section 206.45
Eligible properties.
Section 206.47
Property standards; repair work.
Section 206.51
Eligibility of mortgages involving a dwelling unit in a condominium.
Section 206.52
Eligible sale of property-HECM for Purchase
Section 206.53
Refinancing a HECM loan.
Section 206.55
Deferral of due and payable status for Eligible Non-Borrowing Spouses.
Section 206.57
Cure provision enabling reinstatement of Deferral Period
Section 206.59
Obligations of mortgagee.
Section 206.61
HECM proceeds during a Deferral Period.
Section 206.101
Sale, assignment and pledge of insured mortgages.
Section 206.102
Insurance Funds.
Section 206.103
Payment of MIP.
Section 206.105
Amount of MIP.
Section 206.107
Mortgagee election of assignment or shared premium option.
Section 206.109
Amount of mortgagee share of premium.
Section 206.111
Due date of MIP.
Section 206.113
Late charge and interest.
Section 206.115
Insurance of mortgage.
Section 206.116
Refunds.
Section 206.117
General.
Section 206.119
[Reserved]
Section 206.121
Commissioner authorized to make payments.
Section 206.123
Claim procedures in general.
Section 206.125
Acquisition and sale of the property.
Section 206.127
Application for insurance benefits.
Section 206.129
Payment of claim.
Section 206.130
Amount of payment—HECM Single Family Sale assignments.
Section 206.131
Contract rights and obligations for mortgages on individual dwelling units in a condominium.
Section 206.133
Termination of insurance contract.
Section 206.134
Partial release, addition or substitution of security.
Section 206.135
Application for insurance benefits and fiscal data.
Section 206.136
Conditions for assignment.
Section 206.137
Effect of noncompliance with regulations.
Section 206.138
Mortgagee's liability for certain expenditures.
Section 206.140
Inspection and preservation of properties.
Section 206.141
Property condition.
Section 206.142
Adjustment for damage or neglect.
Section 206.143
Certificate of property condition.
Section 206.144
Final payment.
Section 206.145
Items deducted from payment.
Section 206.146
Debenture interest rate.
Section 206.201
Mortgage servicing generally; sanctions.
Section 206.203
Providing information
Section 206.205
Property charges
Section 206.207
Allowable charges and fees after endorsement
Section 206.209
Prepayment.
Section 206.211
Determination of principal residence and contact information.
Section 206.300
General.
Section 206.302
Establishment of the HECM Counselor Roster.
Section 206.304
Eligibility for placement on the HECM Counselor Roster.
Section 206.306
Removal from the HECM Counselor Roster.
Section 206.308
Continuing education requirements of counselors listed on the HECM Counselor Roster.