§ 203.412 - Payment for foreclosure alternative actions.

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Notwithstanding the conveyance, sale, or assignment requirements for payment of a claim elsewhere in this part, HUD may pay the mortgagee, in accordance with procedures prescribed by HUD, for the following foreclosure alternative actions, in such amounts as HUD determines:

Assumptions under § 203.512;

Special forbearance under §§ 203.471 and 203.614;

Recasting or modification of defaulted mortgages under § 203.616, where the mortgagee is not reimbursed under § 203.405(a);

Refinancing under § 203.43(c).