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PART 221—LOW COST AND MODERATE INCOME MORTGAGE INSURANCE—SAVINGS CLAUSE›Subpart D—Contract Rights and Obligations—Moderate Income Projects

§ 221.780 Issuance of debentures.

24 C.F.R. Parts 207 & 221 — FHA Multifamily Mortgage Insurance (Sec. 207 rental housing; Sec. 221(d) moderate-income housing) · 2026 edition · updated 2026-07-29 · United States

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]

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▸ Contents — 24 C.F.R. Parts 207 & 221 — FHA Multifamily Mortgage Insurance (Sec. 207 rental housing; Sec. 221(d) moderate-income housing)
24 C.F.R. Parts 207 & 221 — FHA Multifamily Mortgage Insurance (Sec. 207 rental housing; Sec. 221(d) moderate-income housing)
  1. 24 C.F.R. Parts 207 & 221 — FHA Multifamily Mortgage Insurance…
  2. PART 207—MULTIFAMILY HOUSING MORTGAGE INSURANCE
  3. ▸ PART 221—LOW COST AND MODERATE INCOME MORTGAGE INSURANCE—SAVIN…
    Overview
    1. Subpart A—Eligibility Requirements—Low Cost Homes—Savings Clause
    2. Subpart B—Contract Rights and Obligations—Low Cost Homes
    3. Special Provisions Applicable Only to Mortgages Involving Cond…
    4. Subpart C—Eligibility Requirements—Moderate Income Projects
    5. ▸ Subpart D—Contract Rights and Obligations—Moderate Income Proj…
      Overview
      1. § 221.751 Cross-reference.
      2. § 221.753 Termination of mortgage insurance.
      3. § 221.755 Premiums first, second, third and operating loss loa…
      4. § 221.761 Forbearance relief.
      5. § 221.762 Payment of insurance benefits.
      6. § 221.763 Special insurance benefits—forbearance relief cases.
      7. § 221.770 Assignment option.
      8. § 221.775 Option period.
      9. § 221.780 Issuance of debentures.
      10. § 221.785 Date of maturity of debentures.
      11. § 221.790 Debenture interest rate.
      12. § 221.795 Displacement—below market interest rate mortgages.
    6. Subpart E—Servicing Responsibilities—Low Cost Homes

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