§ 1005.849. Reconveyance and reassignment.
168 words·~1 min read·
/us/cfr/t24/s§ 1005.849·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)HUD may reconvey the property or reassign the deed of trust or mortgage to the Holder due to:
(1)Noncompliance with this part or any requirements as prescribed by Section 184 Program Guidance; or
(2)An authorized withdrawal of a claim in accordance with § 1005.815.
(b)HUD may take appropriate action against the Holder associated with the reconveyance or reassignment authorized in paragraph
(a)of this section, including but not limited to, seeking reimbursement of all claim costs paid by HUD and carrying costs incurred by HUD in accordance with § 1005.851.
(c)Notwithstanding any other provision in this subpart, in cases where HUD has conveyed the property or reassigned the deed of trust or mortgage back to the Holder in accordance with § 1005.851, and where the Servicer resubmits the claim, HUD will not reimburse the Holder any expenses incurred after the date of the HUD conveyance or assignment.
(d)Additional reasonable and necessary restrictions may be imposed, as prescribed by Section 184 Program Guidance.