Sec. 133. FHA limitation on seller concessions
111 words·~1 min read·
/bill/113/hr/3550/ih/section-133A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Title II of the National Housing Act ( 12 U.S.C. 1707 et seq. ), as amended by the preceding provisions of this Act, is further amended by adding at the end the following new section: The Secretary may not newly insure any mortgage on a 1- to 4-family residential property with respect to which the seller of the property subject to such mortgage (or any third party or entity that is reimbursed directly or indirectly by the seller) contributes toward the acquisition of the property by the mortgagor any amount in excess of 3 percent of the total closing costs (as determined by the Secretary) in connection with such acquisition. .
Connectionstraces to 1
Traces to 1 document
U.S. Code
Citation graph
cites case law
Sec. 133
FHA limitation on seller concessions
Cites 1Cited by 0 across 0 sources