Skip to main content

Mortgagee Letter 2012-24: Secondary Financing Eligibility Requirements for Internal Revenue Code (IRC) Section 115 Entities

HUD issued Mortgagee Letter 2012-24 to clarify that HUD deems Section 115 entities to be “instrumentalities of government” for the purpose of providing secondary financing under single family FHA programs. This Mortgagee Letter supersede guidance provided in ML 2011-38, except for the waiver of voluntary board requirements, and becomes effective immediately upon publication of ML 2012-24.

SOLUTIONS THAT WORK. TECHNOLOGY TO STAY COMPLIANT.