24 CFR § 234.17 - Mortgagor and mortgagee requirements for maintaining flood insurance coverage.

---
identifier: "/us/cfr/t24/s234.17"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "24 CFR § 234.17 - Mortgagor and mortgagee requirements for maintaining flood insurance coverage."
title_number: 24
title_name: "Housing and Urban Development"
section_number: "234.17"
section_name: "Mortgagor and mortgagee requirements for maintaining flood insurance coverage."
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: "234"
part_name: "CONDOMINIUM OWNERSHIP 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. 1715b and 1715y; 42 U.S.C. 3535(d)."
regulatory_source: "36 FR 24628, Dec. 22, 1971, unless otherwise noted."
cfr_part: "234"
---


# 234.17 Mortgagor and mortgagee requirements for maintaining flood insurance coverage.

The maintenance of flood insurance coverage on the project by the condominium association will satisfy the requirements of § 203.16a of this chapter if such coverage protects the interest of the mortgagor in the family unit. For this purpose, “the interest of the mortgagor” is defined as insurance coverage equal to the replacement cost of the project less land costs.