24 CFR 200.81
§ 200.81 Disbursement of mortgage proceeds.
United States · 24 CFR — Housing and Urban Development · Status: effective
Cite this
- Citation
- 24 CFR 200.81, § 200.81 Disbursement of mortgage proceeds, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/99243
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Full text
The mortgagee shall be obligated, as a part of the mortgage transaction, to disburse the principal amount of the mortgage to the:
(a) Mortgagor or mortgagor's account;
(b) Mortgagor's creditors for the mortgagor's account, subject to the mortgagor's consent.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.