Payment for foreclosure alternative actions.

Notwithstanding the conveyance, sale, or assignment requirements for payment of a claim elsewhere in this part, HUD may pay the mortgagee, in accordance with procedures prescribed by HUD, for the following foreclosure alternative actions, in such amounts as HUD determines: (a) Assumptions under § 203.512; (b) Special forbearance under §§ 203.471 and 203.614; (c) Recasting or modification of defaulted mortgages under § 203.616, where the mortgagee is not reimbursed under § 203.405(a); (d) Refinancing under § 203.43(c). [61 FR 35019, July 3, 1996]