24 CFR 220.806
§ 220.806 Pro rata refund of insurance premium.
United States · 24 CFR — Housing and Urban Development · Status: effective
Cite this
- Citation
- 24 CFR 220.806, § 220.806 Pro rata refund of insurance premium, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/99904
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Full text
Upon termination of loan insurance contract by a payment in full or by a voluntary termination, the Commissioner shall refund to the lender for the account of the borrower an amount equal to the pro rata portion of the current annual loan insurance premium theretofore paid which is applicable to the portion of the year subsequent to the date of the prepayment or the effective date of the voluntary termination of the contract of insurance.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.