Code of Federal Regulations (alpha)

CFR /  Title 24  /  Part 241  /  Sec. 241.1215 Calculation of insurance benefits.

All of the provisions of Sec. 207.259 of this chapter apply to subpart F of this part, except that if the lender, at the direction of the Commissioner, acquires title to the project at a foreclosure sale instituted by the holder of the senior insured mortgage, the amount of the claim determined under Sec. 207.259(c) of this chapter shall also include an amount bid by the lender to satisfy the senior insured mortgage at the foreclosure sale.