[Code of Federal Regulations]

[Title 31, Volume 2]

[Revised as of July 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 31CFR337.8]



[Page 248]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY

 

PART 337_SUPPLEMENTAL REGULATIONS GOVERNING FEDERAL HOUSING ADMINISTRATION DEBENTURES--Table of Contents

 

                    Subpart A_Certificated Debentures

 

Sec.  337.8  Payment of mortgage insurance premiums.



    When certificated debentures are tendered for purchase prior to 

maturity in order that the proceeds thereof be applied to pay for 

mortgage insurance premiums, any difference between the amount of the 

debentures purchased and the amount of the mortgage insurance premium 

will generally be issued to the owner in the form of a book-entry 

debenture in the exact amount of such difference, provided it is one 

dollar ($1.00) or more. However, if the owner so requests, such 

difference will be settled with certificated debenture(s), together with 

a cash adjustment, if any. Such request should be made in writing, 

before the book-entry debenture in the amount of the difference is 

issued.