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VOLUME 24

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< O u n to
NUMBER 55

Washington, Friday, March 20, IF959

Title 6 AGRICULTURAL
CREDIT
Chapter III Farmers Home Adminis tration, Department of Agriculture SUBCHAPTER F SECURJTY SERVICING AND
LIQUIDATIONS
FHA Instruction 465.1

PART 372 REI ESTATE SECURITY
Subpart A Servicing and Liquidations The heading of Part 372, Title 6, Code of Federal Regulations, is hereby amend ed as set forth above, Subparts B and C
are revoked and the regulations therein are incorporated in Subpart A 13 P.R.
9458, H F.R. 2081, 6108, redesignated hereby as Servicing and Liquidations, revised to read as follows:
Sec.
372.1
372.2

372.3

372.4
372.5
372.6
372.7
372.8

372.9
O

372 11
37219
372 19
372 14

General.
Subordination of FH A mortgage to permit refinancing, extension, reamortization, or i n c r e a s e in amount of prior lien.
Consent, by partial release, subor dination, or otherwise, to sale or other disposition of portion of or interest in security, except leases.
Consent to junior liens.
Consent to borrowers granting lease of security.
Severance agreements.
Disposition of proceeds of partial release, subordination, and eonsent transactions.
Actions by FH A for account o f bor rower, including advances for preservation o f . security or pro tection . of lien.
Actions by third parties which affect security.
Peceased borrowers.
"Snkruptcy and insolvency.
liquidation action.
v f nSfer of loan accounts.
F H A 17 conveyance of security to
372 1 f oreclsuraby FHA.
372.17 p Sfignment of direct loans.
372 la of Valueless junior liens, delegation of authority.
372.1 to 372.18 issued under 870, sec sin fit16, 50 s ta t- 528, as amended, sec. io 68
tat- 437, sec. 4, 64 Stat. 100, 16
5 P -s c - 22, 7 .S.C. 1015, 16 U-S.C SSvIo42 V S G. 1480, 40 U.S.C. 442, 41, 51, 2 J o . Interprets or applies secs.
50 Stat- 528, as amended, 531, as
amended, 869, as amended, sec. 2, 60 Stat.
1062, as amended, secs. 1, 2, 510, 1, 63 Stat.
43, as amended, 44, as amended, 437, 883, sec.
2, 64 Stat. 98, secs. 9, 10, 1, 68 Stat. 735, 999, as amended; 7 U.S.C. 1015, 1025, 16 U.S.C.
590s, 7 U.S.C. 1001 note, 12 U.S.C. 1148a-l and note, 1148a-2, 42 U jS.C. 1480, 7 U.S.C.
1006a, 40 U.S.C. 440, 16 U.S.C. 590X-2, 590x-3, 12 U.S.C. 1148a-l note. Other statutory pro visions interpreted or applied are cited to text in parentheses.

372.1

General.

CONTENTS
Agricultural Marketing Service Notices:
Anderson Sale Barn et a L ; pro posed posting of stockyards-_
Proposed rule making:
Celery; U.S. standards__________
Milk; in Dayton-Springfield, Ohio, marketing area_________
Rules and regulations:
Grapefruit grown in Arizona; in Imperial County, Calif.; and in that part bf Riverside County, Calif., situated south and east of White W ater, Calif.; limitation of ship ments___________ ______________

Page
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a Definitions. For the purposes of this part, where appropriate, the follow ing definitions shall apply unless other wise indicated. The term FHA means the Farmers Home Administration, or the United States of America acting 2116
through the Farmers Home Administra tion. The terms FH A loans, FH A ac Agriculture Department counts, FH A liens, FHA interests, FHA See Agricultural Marketing Serv security, FHA debts, and similar terms ice; Commodity Credit Corpora apply to indebtedness owed to or insured tion; Farmers Home Adminis by FHA, related security instruments, tration.
and security covered thereby. The term Air Force Department borrower includes all persons who are liable for FH A debts or who executed the Rules andiegulations:
Procurement by negotiation;
related security instruments. The term types of contracts; miscel note includes any note, bond, assump laneous deletions____________
2203
tion agreement, or other evidence of indebtedness. The term mortgage in Alien Property Office cludes any deed of trust or other real Notices:
Vested property; intention to estate security instrument. The terms return:
FO, FH, OL, SW, EM, SE, SL, W F, and Necker, Mrs. Luise K _________ 2218
ORE as applied to loans, mortgages, or Plaut, Dr. M ax________________ 2218
accounts mean, respectively, Farm Own Steffen-Durrer, Mrs. Hermership, Farm Housing, Operating, Soil ine_________________________ _ 2217
and W ater Conservation, Emergency, von M a n g o l d t-Reiboldt, Special Emergency, Special Livestock, Ursula____ __________________ 2217
W ater Facilities, and Other Real Estate.
von Woellwarth, Baroness The term Attorney in Charge refers to Inga_________________________ 2218
the attorney in charge of the local field office of the Office of the General Counsel, Army Department U.S. Department of Agriculture.
See also Engineers Corps.
b Scope. This part delegates au Rules and regulations:
thority and prescribes policy and pro Organized reserves; retirement cedure for servicing and liquidating real pay for nonregular service___ 2200
estate security for all FH A loans except Civil Aeronautics Board Watershed loans and S W loans to as Notices:
sociations.
Southern transcontinental serv c General policy. Real estate secu ice case; reassignment of rity will be serviced, in accordance with hearing___________ ____________
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the provisions of the mortgages, to ac complish the loan purposes and protect Civil Service Commission the Governments financial interest. It Rules and regulations:
will be the policy of F H A to continue to Exceptions from competitive service real estate security in any case service; National Aeronautics where 1 the borrowers have reasonable and Space Administration___ 2196
prospects of accomplishing the purpose Commerce Department Continued, on next page
See Foreign Commerce Bureau.
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