Code of Federal Regulations · Section
§ 1005.747 — Assumption
24 C.F.R. § 1005.747
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The Servicer shall explore assumption as a loss mitigation option with the Borrower in accordance with § 1005.711. Assumptions associated with loss mitigation must result in the cure of the default and reinstatement of the Section 184 Guaranteed Loan.
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