24 CFR § 221.780 - Issuance of debentures.

---
identifier: "/us/cfr/t24/s221.780"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "24 CFR § 221.780 - Issuance of debentures."
title_number: 24
title_name: "Housing and Urban Development"
section_number: "221.780"
section_name: "Issuance of debentures."
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: "221"
part_name: "LOW COST AND MODERATE INCOME MORTGAGE INSURANCE—SAVINGS CLAUSE"
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. 1715b, 1715l, and 1735d; 42 U.S.C. 3535(d)."
regulatory_source: "36 FR 24587, Dec. 22, 1971, unless otherwise noted."
cfr_part: "221"
---


# 221.780 Issuance of debentures.

Upon the exercise of the assignment option and the satisfactory performance of the requirements as to assignment set out in § 207.258 of this chapter, the Commissioner shall issue the assignor mortgagee debentures having a total par value equal to the amount of the original principal obligation of the mortgage which was unpaid on the date of the assignment, plus accrued interest to such date.

[59 FR 49816, Sept. 30, 1994]