24 C.F.R. § 220.823 Claim computation; items deducted.
Title 24 - Housing and Urban Development
If the lender is to receive payment in cash, there shall be deducted from the total of the added items in §220.822 the following: (a) Any balance of the loan not advanced to the borrower; (b) Any cash held by the lender or its agents or to which it is entitled; including deposits made for the account of the borrower and which have not been applied in reduction of the principal obligation under the note and security instrument or instruments.
Title 24: Housing and Urban Development
PART 220—MORTGAGE INSURANCE AND INSURED IMPROVEMENT LOANS FOR URBAN RENEWAL AND CONCENTRATED DEVELOPMENT AREAS
Subpart D—Contract Rights and Obligations—Projects
Insured Project Improvement Loans
§ 220.823 Claim computation; items deducted.
