HUD 24 CFR PART 291-2011 DISPOSITION OF HUD - ACQUIRED SINGLE FAMILY PROPERTY《HUD收购的独户住房财产的处置》.pdf

1、560 24 CFR Ch. II (4111 Edition) Pt. 291 section do not apply to any mortgage that is current under the terms of the mortgage at the time HUD offers it for sale, if the mortgage secures an unsub-sidized project that does not receive any of the forms of project-based as-sistance enumerated in paragra

2、phs (4)(i) to (4)(iv) of the subsidized project definition in 290.3. (c) Applicability to mortgages securing unsubsidized projects receiving project- based assistance (partially-assisted projects) or securing subsidized projects. (1) The nondiscrimination requirement in paragraph (a) of this section

3、 applies to the project owner upon the sale of a mortgage without FHA mortgage in-surance if, at the time HUD offers it for sale, the mortgage secures: (i) An unsubsidized project that re-ceives any of the forms of assistance enumerated in paragraphs (4)(i) to (4)(iv) of the subsidized project defi-

4、nition in 290.5; or (ii) A subsidized project, as defined in 290.3. (2) This requirement shall continue in effect until the mortgage debt is sat-isfied. (d) Covenant requirement for all delin-quent mortgages sold without FHA mort-gage insurance. This paragraph (d) ap-plies to the sale of any mortgag

5、e that is delinquent at the time HUD offers it for sale without FHA mortgage insur-ance, without regard to the subsidy status of the project. The mortgage purchaser and its successors and as-signs shall require the mortgagor to record a covenant running with the land as part of any loan restructurin

6、g or final compromise of the mortgage debt and shall include a covenant in any foreclosure deed executed in con-nection with the mortgage. The cov-enant shall set forth the non-discrimination requirement in para-graph (a) of this section. The covenant shall continue in effect until a date that is th

7、e same as the maturity date of the mortgage sold by HUD. 61 FR 11685, Mar. 21, 1996; 61 FR 19188, May 1, 1996, as amended at 61 FR 32265, June 21, 1996 PART 291DISPOSITION OF HUD- ACQUIRED SINGLE FAMILY PROPERTY Subpart AGeneral Provisions Sec. 291.1 Purpose and general requirements. 291.5 Definitio

8、ns. 291.10 General policy regarding rental of ac-quired property. Subpart BDisposition by Sale 291.90 Sales methods. 291.100 General policy. Subpart CSales Procedures 291.200 Future REO acquisition method. 291.205 Competitive sales of individual prop-erties. 291.210 Direct sales procedures. Subpart

9、DSale of HUD-Held Single Family Mortgage Loans 291.301 Definitions. 291.302 Purpose and general policy. 291.303 Eligible bidders. 291.304 Bidding process. 291.305 Selection of bids and execution of Loan Sale Agreement. 291.306 Closing requirements. 291.307 Servicing requirements. Subpart ELease and

10、Sale of HUD-Ac-quired Single Family Properties for the Homeless 291.400 Purpose and scope. 291.405 Definitions. 291.415 Lease with option to purchase prop-erties for use by the homeless. 291.430 Elimination of lead-based paint haz-ards. 291.435 Applicability of other Federal re-quirements. 291.440 R

11、ecordkeeping requirements. Subpart FGood Neighbor Next Door Sales Program 291.500 Purpose. 291.505 Definition of unit of general local government. 291.510 Overview of the GNND Sales Pro-gram. 291.515 Purchaser qualifications. 291.520 Eligible law enforcement officers. 291.525 Eligible teachers. 291.

12、530 Eligible firefighter/emergency med-ical technicians. 291.535 Earnest money deposit. 291.540 Owner-occupancy term. 291.545 Financing purchase of the home. 291.550 Second mortgage. VerDate Mar2010 10:21 May 10, 2011 Jkt 223078 PO 00000 Frm 00570 Fmt 8010 Sfmt 8010 Y:SGML223078.XXX 223078WReier-Avi

13、les on DSKGBLS3C1PROD with CFRProvided by IHSNot for ResaleNo reproduction or networking permitted without license from IHS-,-,-561 Office of Assistant Secretary for Housing, HUD 291.5 291.555 Refinancing. 291.560 Ineligibility of multiple-unit prop-erties. 291.565 Continuing obligations after pur-c

14、hase. AUTHORITY: 12 U.S.C. 1701 et seq.; 42 U.S.C. 1441, 1441a, 1551a, and 3535(d). SOURCE: 56 FR 46956, Sept. 16, 1991, unless otherwise noted. Subpart AGeneral Provisions SOURCE: 64 FR 6479, Feb. 9, 1999, unless oth-erwise noted. 291.1 Purpose and general require-ments. (a) Purpose. (1) This part

15、governs the disposition of one-to-four family prop-erties acquired by the Federal Housing Administration (FHA) through fore-closure of an insured or Secretary-held mortgage or loan under the National Housing Act, or acquired by HUD under section 312 of the Housing Act of 1964. HUD will issue detaile

16、d policies and procedures that must be followed in specific areas. (2) The purpose of the property dis-position program is to dispose of prop-erties in a manner that expands home-ownership opportunities, strengthens neighborhoods and communities, and ensures a maximum return to the mortgage insuranc

17、e funds. (b) Nondiscrimination policy. The re-quirements set forth in 24 CFR parts 5 and 110 apply to the administration of any activity under this part. In addi-tion, in accordance with 24 CFR 9.155(a), HUD must ensure that its poli-cies and practices in conducting the single family property dispos

18、ition pro-gram do not discriminate on the basis of disability. 291.5 Definitions. (a) The term Secretary is defined in 24 CFR part 5. (b) Other terms used in this part are defined as follows: Competitive sale of individual property means a sale of an individual property to an individual bidder throu

19、gh a sealed bid process (or other bid process specifically authorized by the Sec-retary) in competition with other bid-ders in which properties have been pub-licly advertised to all prospective pur-chasers for bids. Direct sale means a sale to a selected purchaser to the exclusion of all others with

20、out resorting to advertising for bids. Such a sale is available only to approved applicants. Eligible properties means HUD-ac-quired properties designated by HUD for property disposition or other hous-ing programs. HUD means the Department of Hous-ing and Urban Development or its con-tractor, as app

21、ropriate. Insured mortgage means a mortgage insured under the National Housing Act (12 U.S.C. 1701 et seq.). Investor purchaser means a purchaser who does not intend to use the prop-erty as his or her principal residence. Owner-occupant purchaser means a purchaser who intends to use the prop-erty as

22、 his or her principal residence; a State, governmental entity, tribe, or agency thereof; or a private nonprofit organization as defined in this section. Governmental entities include those with general governmental powers (e.g., a city or county), as well as those with limited or special powers (e.g

23、., public housing agencies). Private nonprofit organization means a secular or religious organization, no part of the net earnings of which may inure to the benefit of any member, founder, contributor, or individual. The organization must: (1) Have a voluntary board; (2)(i) Have a functioning accoun

24、ting system that is operated in accordance with generally accepted accounting principles; or (ii) Designate an entity that will maintain a functioning accounting sys-tem for the organization in accordance with generally accepted accounting principles; (3) Practice nondiscrimination in the provision

25、of assistance in accordance with the authorities described in 291.435(a); and (4) Have nonprofit status as dem-onstrated by approval under section 501(c)(3) of the Internal Revenue Code (26 U.S.C. 501(c)(3), or demonstrate that an application for such status is currently pending approval. State mean

26、s any of the several States, the District of Columbia, the VerDate Mar2010 10:21 May 10, 2011 Jkt 223078 PO 00000 Frm 00571 Fmt 8010 Sfmt 8010 Y:SGML223078.XXX 223078WReier-Aviles on DSKGBLS3C1PROD with CFRProvided by IHSNot for ResaleNo reproduction or networking permitted without license from IHS-

27、,-,-562 24 CFR Ch. II (4111 Edition) 291.10 Commonwealth of Puerto Rico, the Virgin Islands, Guam, American Samoa, the Northern Mariana Islands, the Trust Territory of the Pacific Is-lands, and any other territory or pos-session of the United States. Tribe has the meaning provided for the term India

28、n tribe in section 102 of the Housing and Community Devel-opment Act of 1974 (42 U.S.C. 5302). 291.10 General policy regarding rent-al of acquired property. HUD will lease acquired property to comply with other designated HUD programs, or when the Secretary deter-mines that it is in the interest of

29、HUD. Leases may include an option to pur-chase in appropriate circumstances. Subpart BDisposition by Sale SOURCE: 64 FR 6480, Feb. 9, 1999, unless oth-erwise noted. 291.90 Sales methods. HUD will prescribe the terms and conditions for all methods of sale. HUD may, in its discretion, on a case-by- ca

30、se basis or as a regular course of business, choose from among the fol-lowing methods of sale: (a) Future REO acquisition method. The Future Real Estate-Owned (REO) acquisition method consists of a prop-erty acquisition agreement (or agree-ments) between HUD and a transferor (or transferors), which

31、shall provide for the right and obligation of the trans-feror(s) to acquire a future quantity of properties designated by HUD as they become available. HUD will select such transferor(s) through a competitive process, in accordance with all applica-ble laws and regulations, including the requirement

32、s in 291.200. The trans-feror(s) shall have the right and obliga-tion to manage and dispose of the prop-erties upon such terms and conditions as are approved by the Secretary; (b) Competitive sales of individual prop-erties. This method consists of competi-tive sales of individual properties to in-d

33、ividual buyers, the procedures for which are described in 291.205; (c) Direct sales methods. There are three types of direct sales methods: (1) Direct sales of properties without insured mortgages to governmental en-tities and private nonprofit organiza-tions, the procedures for which are de-scribed

34、 in 291.210(a); (2) Direct sales to displaced persons, sales of razed lots, or auctions, the pro-cedures for which are described in 291.210(b); (3) Direct sales to other individuals or entities that do not meet any of the categories specified in paragraphs (a) through (d) of this section, under the

35、circumstances and procedures de-scribed in 291.210(c); (d) Bulk sales, the procedures for which are described in 291.210(d); or (e) Other sales methods. HUD may se-lect any other methods of sale, as de-termined by the Secretary. 291.100 General policy. For all sales, except as otherwise spe-cificall

36、y indicated, those sales con-ducted in accordance with 291.90(a) and 291.200 or with subpart D of this part, the following general policies apply: (a) Qualified purchaser. (1) Anyone, including a purchaser from a transferor of a property pursuant to 291.90(a) and 291.200, regardless of race, color,

37、re-ligion, sex, national origin, familial status, age, or disability may offer to buy a HUD-owned property, except that: (i) No member of or delegate to Con-gress is eligible to buy or benefit from a purchase of a HUD-owned property; and (ii) No nonoccupant mortgagor (whether an original mortgagor,

38、assumptor, or a person who purchased subject to) of an insured mortgage who has defaulted, thereby causing HUD to pay an insurance claim on the mortgage, is eligible to repurchase the same property. (2) Neither HUD nor any transferor pursuant to 291.90(a) or 291.200 will offer former mortgagors in o

39、ccupancy who have defaulted on the mortgage the right of first refusal to repurchase the same property. (3) HUD will offer tenants accepted under the occupied conveyance proce-dures outlined in 24 CFR 203.670 through 203.685 the right of first refusal to purchase the property only if: (i) The tenant

40、 has a recognized abil-ity to acquire financing and a good VerDate Mar2010 10:21 May 10, 2011 Jkt 223078 PO 00000 Frm 00572 Fmt 8010 Sfmt 8010 Y:SGML223078.XXX 223078WReier-Aviles on DSKGBLS3C1PROD with CFRProvided by IHSNot for ResaleNo reproduction or networking permitted without license from IHS-

41、,-,-563 Office of Assistant Secretary for Housing, HUD 291.100 rent-paying history, and has made a re-quest to HUD to be offered the right of first refusal; or (ii) State or local law requires that tenants be offered the right of first re-fusal. (b) List price. The list price, or ask-ing price, assi

42、gned to the property is based upon an appraisal conducted by an independent real estate appraiser using nationally recognized industry standards for the appraisal of residen-tial property. (c) Insurance. Properties may be sold under the following programs: (1) Insured. A property that meets the Mini

43、mum Property Standards (MPS), as determined by the Secretary, for ex-isting dwellings (Requirements for Ex-isting Housing, One to Four Family Living Units, HUD Handbook 4905.1, which is available at the Department of Housing and Urban Development, HUD Customer Service Center, 451 7th Street, SW, Roo

44、m B100, Washington, DC 20410; by calling (202) 7083151; or via the Internet at www.hud.gov) will be offered for sale in as-is condition with FHA mortgage insurance avail-able. Flood insurance must be obtained and maintained as provided in 24 CFR 203.16a. (2) Insured with repair escrow. A prop-erty t

45、hat requires no more than $5,000 for repairs to meet the MPS, as deter-mined by the Secretary, will be offered for sale in as-is condition with FHA mortgage insurance available, provided the mortgagor establishes a cash es-crow to ensure the completion of the required repairs. (3) Uninsured. A prope

46、rty that fails to qualify under either paragraph (c)(1) or (c)(2) of this section will be offered for sale either in as-is condition without mortgage insurance available, or in as-is condition under section 203(k) of the National Housing Act (12 U.S.C. 1709(k). (d) Financing. (1) Except as provided

47、in paragraph (d)(2) of this section, the purchaser is entirely responsible for obtaining financing for purchasing a property. (2) HUD, in its sole discretion, may take back purchase money mortgages (PMMs) on property purchased by gov-ernmental entities or private nonprofit organizations who buy prop

48、erty for ul-timate resale to owner-occupant pur-chasers with incomes at or below 115 percent of the area median income. When offered by HUD, a PMM will be available in an amount determined by the Secretary to be appropriate, at market rate interest, for a period not to exceed 5 years. Mortgagors mus

49、t meet FHA mortgage credit standards. (3) Purchase money mortgage (PMM). For purposes of this section, the term purchase money mortgage, or PMM means a note secured by a mortgage or trust deed given by a buyer, as mort-gagor, to the seller, as mortgagee, as part of the purchase price of the real estate. (e) Environmental requirements and standards. Sales under this part are subject to the environmental requir