24 CFR 200.47
§ 200.47 Firm commitments.
United States · 24 CFR — Housing and Urban Development · Status: effective
Cite this
- Citation
- 24 CFR 200.47, § 200.47 Firm commitments, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/99221
- Permanent ID
ys:prov:99221@1- SHA-256
946ff8e8e8d7bcd7a98124f68f25502f6e8ddfa5fe1f8b2db9f63cd0f975d696
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
A valid firm commitment must be in effect at the time the mortgage instrument is endorsed.
(a) Insurance upon completion. The commitment shall provide the terms and conditions for the insurance of the mortgage:
(1) After completion of construction or substantial rehabilitation of the project; or
(2) Upon completion of required work, except as deferred by the Commissioner in accordance with terms, conditions and standards established by the Commissioner, for an existing project without substantial rehabilitation.
(b) Insured advances. The commitment shall provide for insurance of the mortgage as provided in paragraph (a) of this section, and for the insurance of mortgage money advanced in accordance with terms and conditions established by the Commissioner during: construction; substantial rehabilitation; or other work acceptable to the Commissioner.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.