1、290 24 CFR Ch. II (4111 Edition) 208.112 transmit data for certification, recer-tification and subsidy billing proce-dures to HUD in a HUD specified for-mat. In the case of partially assisted section 202 projects, owners are re-quired to electronically transmit data only for subsidized units. These
2、project owners are required to transmit data collected for the 12 months preceding the effective date of the rule, as well as data collected on or after the effective date of the rule. Data collected for the 12 months preceding September 23, 1994 is to include only the tenants most re-cent complete
3、certification (move- in, initial certification, interim recer-tification, or annual recertification). When the most recent certification for a tenant is a partial certification (gross rent change, unit transfer, or correction), both the complete and par-tial certifications must be transmitted. (e) D
4、ata to be transmitted. Electronic transmission consists of data trans-mitted from the HUD50059, 50059 work-sheets, 52670 and 52670A, Parts 1 and 2 and 52671 A through D correctly for-matted in accord with the HUD data requirements and in lieu of the hard copy forms. 58 FR 61022, Nov. 19, 1993, as am
5、ended at 59 FR 43474, Aug. 24, 1994 208.112 Cost. (a) The costs of the electronic trans-mission of the correctly formatted data, including either the purchase and maintenance of computer hardware or software, or both, the cost of con-tracting for those services, or the cost of centralizing the elect
6、ronic trans-mission function, shall be considered project operating costs to be paid from project income, and considered project operating costs for the purpose of proc-essing and approving requests for HUD approval of rent increases. (b) At the owners option, the cost of the computer software may i
7、nclude service contracts to provide mainte-nance or training, or both. Regardless of whether an owner obtains service contracts to provide maintenance or training or both, the software must be updated to incorporate changes or revi-sions in legislation, regulations, hand-books, notices or HUD electr
8、onic trans-mission data format requirements. (c) The source of funds for the pur-chase of hardware or software, or con-tracting for services for electronic transmission, may include current project operating income; an expense item in processing rent increases; a loan from the Reserve for Replacemen
9、t Account, or a release from the Residual Receipts Account. (d) A loan from the Reserve for Re-placements Account must be repaid within a five year period from the re-lease date. (e) Owners of smaller projects or par-tially assisted projects with few sub-sidized units and CAs that administer no more
10、 than one project that deter-mine that the purchase of hardware and/or software is not cost effective may contract out the electronic data transmission function to organizations that provide such services, including, but not limited to the following organi-zations: local management agents, local man
11、agement associations and management agents with centralized facilities. Owners of multiple projects may centralize the electronic trans-mission function. However, owners that contract out or centralize the electronic transmission function are required to retain the ability to mon-itor the day-to-day
12、 operations of the project at the project site and be able to demonstrate that ability to the rel-evant HUD field office. 58 FR 61022, Nov. 19, 1993, as amended at 59 FR 43475, Aug. 24, 1994 PART 213COOPERATIVE HOUSING MORTGAGE INSURANCE Subpart AEligibility Requirements Projects Sec. 213.1 Eligibil
13、ity requirements. Subpart BContract Rights and ObligationsProjects 213.251 Cross-reference. 213.252 Definitions. 213.253 Premiums upon initial endorsement. 213.254 Premiums where first principal pay-ment more than one year after initial en-dorsement. 213.255 Premiums where first principal pay-ment o
14、ne year or less after initial en-dorsement. VerDate Mar2010 10:21 May 10, 2011 Jkt 223078 PO 00000 Frm 00300 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-,-,-291 Office
15、of Assistant Secretary for Housing, HUD 213.251 213.256 Premiums; insurance upon comple-tion. 213.257 Premiums; purchasing cooperatives; Existing Construction, supplementary loans to purchase existing community fa-cility. 213.258 Subsequent annual premiums. 213.259 Computation of subsequent annual p
16、remiums. 213.259a Premiumsmortgages insured pur-suant to Section 238(c) of the Act. 213.260 Allowable methods of premium pay-ment. 213.265 Modifications and consolidations. 213.266 Initial insurance endorsement. 213.266a Insurance fund obligations. 213.267 Effect of insurance endorsement. 213.268 Fi
17、nal insurance endorsement. 213.269 Endorsement of supplementary loans. 213.270 Supplementary loans; election of ac-tion; claims; debentures. COOPERATIVE MANAGEMENT HOUSING INSURANCE AND DISTRIBUTIVE SHARES 213.275 Nature of the Cooperative Manage-ment Housing Insurance Fund. 213.276 Allocation of Co
18、operative Manage-ment Housing Insurance Fund income or losses. 213.277 Right and liability under the Coop-erative Management Housing Insurance Fund. 213.278 Distribution of distributive share. 213.279 Maximum amount of distributive share. 213.280 Finality of determination. Subpart CIndividual Proper
19、ties Released From Project Mortgage; Expiring Program 213.501 Savings clause. AUTHORITY: 12 U.S.C. 1715b, 1715e; 42 U.S.C. 3535(d). SOURCE: 36 FR 24553, Dec. 22, 1971, unless otherwise noted. Subpart AEligibility RequirementsProjects 213.1 Eligibility requirements. The eligibility requirements set f
20、orth in 24 CFR part 200, subpart A, apply to multifamily project mortgages insured under section 213 of the National Hous-ing Act (12 U.S.C. 1715e), as amended. 61 FR 14405, Apr. 1, 1996 Subpart BContract Rights and ObligationsProjects 213.251 Cross-reference. (a) All of the provisions of subpart B,
21、 part 207 of this chapter covering mort-gages insured under section 207 of the National Housing Act, apply with full force and effect to mortgages insured under section 213 of the National Hous-ing Act, except the following provi-sions: Sec. 207.251 Definitions. 207.252 First, second, and third prem
22、iums. 207.254 Form of endorsement. (b) For the purposes of this subpart, all references in part 207 of this chapter to section 207 of the National Housing Act shall be deemed to refer to section 213 of the Act, and all references in part 207 of this chapter to the General Insurance Fund shall be dee
23、med to refer to the Cooperative Management Housing Insurance Fund in cases in-volving mortgages which are the obli-gation of the Cooperative Management Housing Insurance Fund. (c) The provisions of 207.255, 207.256, 207.257, 207.261, 207.262 and 207.263 of this chapter shall apply to supplementary l
24、oans insured under section 213(j) of the Act. In connection with the foregoing provisions the terms mortgagor, mort-gagee, mortgage shall be construed to mean borrower, lender, and supple-mentary loan, including required security instrument. (d) Where the provisions of this sub-part are applicable t
25、o supplementary loans, the terms mortgagor, mortgagee, mortgage, shall be construed to mean borrower, lender, and supplementary loan, including required security instru-ment. (e) Where the provisons of this sub-part are applicable to operating loss loans, the terms mortgagor, mortgagee and mortgage
26、shall be construed to mean borrower, lender and operating loss loan, including required security instru-ment, respectively. 36 FR 24553, Dec. 22, 1971, as amended at 37 FR 8662, Apr. 29, 1972 VerDate Mar2010 10:21 May 10, 2011 Jkt 223078 PO 00000 Frm 00301 Fmt 8010 Sfmt 8010 Y:SGML223078.XXX 223078W
27、Reier-Aviles on DSKGBLS3C1PROD with CFRProvided by IHSNot for ResaleNo reproduction or networking permitted without license from IHS-,-,-292 24 CFR Ch. II (4111 Edition) 213.252 213.252 Definitions. The definitions contained in 213.1 shall apply to this subpart and in addi-tion the following terms s
28、hall have the meaning indicated. (a) Contract of Insurance means the agreement evidenced by endorsement of the credit instrument by the Com-missioner or his duly authorized rep-resentative and includes the terms, conditions and provisions of this sub-part and of the National Housing Act. (b) Insured
29、 mortgage means a mort-gage which has been insured by the en-dorsement of the credit instrument by the Commissioner. (c) Mortgage means such a first lien upon real estate and other property as is commonly given to secure advances on, or the unpaid purchase price of, real estate under the laws of the
30、 State, district or territory in which the real estate is located, together with the credit instrument or instruments, if any, secured thereby. In any instance where an operating loss loan is in-volved, the term shall include both the original mortgage and the instrument securing the operating loss
31、loan. (d) Mortgagee means the original lender under a mortgage, its successors and such of its assigns as are approved by the Commissioner, and includes the holders of the credit instruments issued under a trust indenture, mort-gage or deed of trust pursuant to which such holders act by and through
32、a trustee therein named. (e) Mortgagor means the original bor-rower under a mortgage and its succes-sors and such of its assigns as are ap-proved by the Commissioner. (f) Project Mortgage means a blanket mortgage insured under section 213 of the Act, covering a group of not less than five single-fam
33、ily dwellings. 213.253 Premiums upon initial en-dorsement. (a) Management and Sales Types and Investor Sponsored Projects. The mort-gagee, upon the initial endorsement of the mortgage for insurance, shall pay to the Commissioner a first mortgage insurance premium equal to one-half of one percent of
34、the original face amount of the mortgage. (b) Purchasing cooperatives. The provi-sions of paragraph (a) of this section do not apply to the mortgage or a pur-chasing nonprofit cooperative housing corporation or trust where such mort-gage is endorsed for insurance pursuant to the sale of an Investor
35、Sponsored Project to such purchasing nonprofit cooperative housing corporation or trust. (c) Existing Construction. The provi-sions of paragraph (a) of the section shall apply to a mortgage covering Ex-isting Construction which involves in-surance of advances for Commissioner approved or required re
36、pairs, improve-ments, alterations and additions. (d) Operating loss loans and supple-mentary loans. The provisions of para-graph (a) of this section shall apply to any operating loss loan and to any sup-plementary loan, except a supple-mentary loan to finance the acquisi-tion of an existing communit
37、y facility. 213.254 Premiums where first prin-cipal payment more than one year after initial endorsement. (a) Management and Sales Types and Investor Sponsored Projects. (1) If the date of the first principal payment is more than one year following the date of such initial insurance endorsement, the
38、 mortgagee, upon the anniversary of such insurance date, shall pay a second premium equal to one-half of one per-cent of the original face amount of the mortgage. On the date of the first prin-cipal payment, the mortgagee shall pay a third premium equal to one-half of one percent of the average outs
39、tanding principal obligation of the mortgage for the following year which shall be adjusted so as to accord with such date and so that the aggregate of the first, second and third premiums shall equal the sum of: (i) One percent of the average out-standing principal obligation of the mortgage for th
40、e year following the date of initial insurance endorsement, and (ii) One-half of one percent per annum of the average outstanding principal obligation of the mortgage for the period from the first anniver-sary of the date of initial insurance en-dorsement to one year following the date of the first
41、principal payment. (2) If the date of the first principal payment of a mortgage is more than VerDate Mar2010 10:21 May 10, 2011 Jkt 223078 PO 00000 Frm 00302 Fmt 8010 Sfmt 8010 Y:SGML223078.XXX 223078WReier-Aviles on DSKGBLS3C1PROD with CFRProvided by IHSNot for ResaleNo reproduction or networking p
42、ermitted without license from IHS-,-,-293 Office of Assistant Secretary for Housing, HUD 213.256 one year following the date of the ini-tial insurance endorsement and the mortgage is paid in full prior to the date of such first principal payment, the first and second premiums col-lected shall be adj
43、usted so that the ag-gregate of the two premiums shall equal the sum of: (i) One percent of the average out-standing principal obligation of the mortgage for the year following the date of the initial insurance endorse-ment and (ii) One-half of one percent per annum of the average outstanding princi
44、pal obligation of the mortgage for the period from the first anniver-sary of the date of initial endorsement to the date the mortgage was paid in full. (b) Purchasing cooperatives. The provi-sions of paragraph (a) of this section do not apply to the mortgage of a pur-chasing nonprofit cooperative ho
45、using corporation or trust where such mort-gage is endorsed for insurance pursuant to the sale of an Investor Sponsored Project to such purchasing nonprofit cooperative housing corporation or trust. (c) Existing Construction. The provi-sions of paragraph (a) of this section shall apply to a mortgage
46、 covering Ex-isting Construction which involves in-surance of advances for Commissioner approved or required repairs, improve-ments, alterations and additions. (d) Supplementary loan; insurance of advances. The provisions of paragraph (a) shall apply to any supplementary loan involving insurance of
47、advances. 213.255 Premiums where first prin-cipal payment one year or less after initial endorsement. (a) Management and Sales Types and Investor Sponsored Projects. (1) If the date of the first principal payment is one year, or less than one year fol-lowing the date of such initial insur-ance endor
48、sement, the mortgagee, upon such first principal payment date, shall pay a second premium equal to one-half of one percent of the average outstanding principal obligation of the mortgage for the following year which shall be adjusted so as to accord with such date and so that the aggregate of the fi
49、rst and second premiums shall equal the sum of (i) One percent per annum of the av-erage outstanding principal obligation of the mortgage for the period from the date of initial insurance endorsement to the date of first principal payment, and (ii) One-half of one percent of the av-erage outstanding principal obligation of the mortgage for the year following the date of the first principal payment. (2) If the date of the first principal payment of
