Code of Federal Regulations · Section
§ 1005.453 — Amortization Provisions
24 C.F.R. § 1005.453
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The loan must contain complete Amortization provisions satisfactory to HUD, requiring payments due on the first day of each month by the Borrower. The sum of the principal and interest payments in each month shall be substantially the same.
Authorizing Statute
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Administrative provisions42 U.S.C. § 3535
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Minimum standards for residential mortgage loans15 U.S.C. § 1639c