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Code · CFR · Title 24 — Housing and Urban Development · Part 1005 — Loan Guarantees for Indian Housing · § 1005.459

§ 1005.459. Loan submission to HUD for endorsement.

143 words·~1 min read·/us/cfr/t24/s§ 1005.459·

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(a)Deadline for submission. Within 60 days after the date of closing the loan, a Direct Guarantee Lender must submit an endorsement case binder to HUD, in accordance with § 1005.503.
(b)Late submission. If the endorsement case binder is submitted past 60 days, the Direct Guarantee Lender must include, as part of the case binder, a late endorsement request with supporting documentation, affirming:
(1)The loan is not currently in default;
(2)All escrow accounts for taxes, hazard insurance, and monthly Loan Guarantee Fees are current;
(3)Neither the Direct Guarantee Lender nor Servicer provided the funds to bring or keep the loan current or to bring about the appearance of acceptable payment history; and
(4)Notwithstanding paragraph (b)(3) of this section, with prior approval from HUD, Direct Guarantee Lender or Servicer may provide funds to bring or keep the loan current.
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