§ 570.706. Federal guarantee; subrogation.
72 words·~1 min read·
/us/cfr/t24/s§ 570.706·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 108(f) of the Act provides for the incontestability of guarantees by HUD under subpart M of this part in the hands of a holder of such guaranteed obligations. If HUD pays a claim under a guarantee made under section 108 of the Act, HUD shall be fully subrogated for all the rights of the holder of the guaranteed debt obligation with respect to such obligation. \[61 FR 11481, Mar. 20, 1996\]