24 CFR §207.251 — Definitions

fha-24cfr-207-251

HUD / FHA Multifamily · a federal regulation, 24 CFR Part 207, Subpart B—Contract Rights and Obligations. It governs FHA's multifamily programs, not the Single Family Housing Policy Handbook 4000.1. Text as of eCFR 2026-10-09.

24 CFR §207.251, Definitions. An FHA multifamily program rule in Subpart B—Contract Rights and Obligations of 24 CFR Part 207 (Multifamily Housing Mortgage Insurance).

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Verbatim regulatory text (7)

Verbatim provisions from 24 CFR §207.251 — Definitions — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

24 CFR §207.251(a)

As used in this subpart: (a) The term Commissioner means the Federal Housing Commissioner.

Source: 24 CFR §207.251(a) · source URL · snapshot 14e4da94545efd17

24 CFR §207.251(b)

(b) The term act means the National Housing Act, as amended.

Source: 24 CFR §207.251(b) · source URL · snapshot 14e4da94545efd17

24 CFR §207.251(c)

(c) The term mortgage means such a first lien upon real estate and other property as is commonly given to secure advances on, or the unpaid purchase price of, real estate under the laws of the State, district or territory in which the real estate is located, together with the credit instrument or instruments, if any, secured thereby. In any instance where an operating loss loan is involved, the term shall include both the original mortgage and the instrument securing the operating loss loan.

Source: 24 CFR §207.251(c) · source URL · snapshot 14e4da94545efd17

24 CFR §207.251(d)

(d) The term insured mortgage means a mortgage which has been insured by the endorsement of the credit instrument by the Commissioner, or his duly authorized representative.

Source: 24 CFR §207.251(d) · source URL · snapshot 14e4da94545efd17

24 CFR §207.251(e)

(e) The term contract of insurance means the agreement evidenced by such endorsement and includes the terms, conditions and provisions of this part and of the National Housing Act.

Source: 24 CFR §207.251(e) · source URL · snapshot 14e4da94545efd17

24 CFR §207.251(f)

(f) The term mortgagor means the original borrower under a mortgage and its successors and such of its assigns as are approved by the Commissioner.

Source: 24 CFR §207.251(f) · source URL · snapshot 14e4da94545efd17

24 CFR §207.251(g)

(g) The term mortgagee means the original lender under a mortgage its successors and such of its assigns as are approved by the Commissioner, and includes the holders of the credit instruments issued under a trust indenture, mortgage or deed of trust pursuant to which such holders act by and through a trustee therein named.

Source: 24 CFR §207.251(g) · source URL · snapshot 14e4da94545efd17

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Source of record: https://claudeforcompliance.com/regs/fha-24cfr-207-251/ · register fha-24cfr-207-251 · verbatim, source-snapshotted regulator text from the Claude for Compliance corpus. To work from every register at once, download the corpus and follow the methodology.