24 CFR 200.81 – Disbursement of mortgage proceeds
Current as of: 2024 | Check for updates
|
Other versions
The mortgagee shall be obligated, as a part of the mortgage transaction, to disburse the principal amount of the mortgage to the:
(a) Mortgagor or mortgagor’s account;
(b) Mortgagor’s creditors for the mortgagor’s account, subject to the mortgagor’s consent.