Examples of FHA Insured Mortgage Loan in a sentence
On January 15, 1993, the Corporation issued its $164,645,000 Multi-Family Mortgage Revenue Bonds (FHA Insured Mortgage Loan), 1993 Series A and 1993 Series B, of which $146,945,000 of the 1993 Series A bonds (and none of the 1993 Series B bonds) is outstanding, to acquire a defaulted FHA-insured mortgage loan for the Manhattan Park Project (also known as Roosevelt Island Northtown Phase II) from the United States Department of Housing and Urban Development.
The Participant has complied as to each FHA Insured Mortgage Loan, with the National Housing Act, as amended and supplemented, all rules and regulations issued thereunder and all administrative publications, and such insurance is in full force and effect and will, upon purchase of the Mortgage Loans, inure to the benefit of the Board.
The Bonds are subject to mandatory redemption in whole, on the earliest practicable day for which notice of redemption may be given upon receipt by the Trustee of written certification from the FHA Lender of an occurrence of an event of default by the Borrower under the FHA Insured Mortgage Loan and commencement of an assignment of the FHA Insured Mortgage Loan by the FHA Lender to HUD for an FHA insurance claim.
For so long as the FHA Insured Mortgage Loan is outstanding, the Developer and the Authority shall not further amend the Restrictive Covenants, with the exception of clerical errors or administrative correction of non-substantive matters, without HUD’s prior written consent.
Each such Mortgage Loan will be an FHA Insured Mortgage Loan, a VA Mortgage Loan or other Mortgage Loan insured or guaranteed by a Governmental Insurer.
In the event of foreclosure (or deed in lieu of foreclosure) of the FHA Insured Mortgage Loan, the Restrictive Covenants (including without limitation, any and all land use covenants and/or restrictions contained herein) shall automatically terminate.
Where supervision is judged to be inadequate, permission for the continued use of the facility will be withheld until proper supervision is provided.
Title of Information Collection: FHA- Insured Mortgage Loan Servicing of Payments, Prepayments, Terminations, Assumptions, and Transfers.OMB Approval Number: 2502–0595.Type of Request: Revision of currently approved collection.Form Numbers: HUD–92210.1. Description of the need for the information and proposed use: FHA insurance is an important source ofmortgage credit for low and moderate- income borrowers.
FHA Lender Funds The Borrower has acknowledged that the FHA Lender has determined to fund the FHA Insured Mortgage Loan, on the condition that the FHA Lender originate and service the FHA Insured Mortgage Loan in accordance with the FHA Loan Documents, the FHA Insurance Regulations and the GNMA Regulations, and the FHA Lender will, pursuant to the related FHA Loan Documents, issue the GNMA Securities in accordance with the GNMA Regulations, based on and backed by the FHA Insured Mortgage Loan.
On January 17, 1995, the Corporation issued its taxable $13,910,000 Multi-Family Mortgage Revenue Bonds (FHA Insured Mortgage Loan), 1995 Series A, of which $7,580,000 is outstanding, to refund a like amount of the 1993 Series B bonds.