# 24 C.F.R. § 203.501 (2026): Loss mitigation

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/CFR_T24_P203_S203_501

## Section

- **Citation:** 24 C.F.R. § 203.501 (2026)
- **Heading:** Loss mitigation
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Title 24 CFR: Housing and Urban Development / Chapter II: OFFICE OF ASSISTANT SECRETARY FOR HOUSING—FEDERAL HOUSING COMMISSIONER, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT / Part 203: SINGLE FAMILY MORTGAGE INSURANCE / Subpart C: Servicing Responsibilities / § 203.501: § 203.501   Loss mitigation.

## Text

Mortgagees must consider the comparative effects of their elective servicing actions, and must take those appropriate actions which can reasonably be expected to generate the smallest financial loss to the Department. Such actions include, but are not limited to, deeds in lieu of foreclosure under § 203.357, pre-foreclosure sales under § 203.370, partial claims under § 203.414, assumptions under § 203.512, special forbearance under §§ 203.471 and 203.614, and recasting of mortgages under § 203.616. HUD may prescribe conditions and requirements for the appropriate use of these loss mitigation actions, concerning such matters as owner-occupancy, extent of previous defaults, prior use of loss mitigation, and evaluation of the mortgagor's income, credit and property.
[59 FR 50145, Sept. 30, 1994, as amended at 61 FR 35019, July 3, 1996]

## Nearby sections

- [24 C.F.R. § 203.500 (2026) § 203.500   Mortgage servicing generally.](https://www.frixlaw.com/law-library/statutes/CFR_T24_P203_S203_500.md)
- [24 C.F.R. § 203.501 (2026) § 203.501   Loss mitigation.](https://www.frixlaw.com/law-library/statutes/CFR_T24_P203_S203_501.md)
- [24 C.F.R. § 203.502 (2026) § 203.502   Responsibility for servicing.](https://www.frixlaw.com/law-library/statutes/CFR_T24_P203_S203_502.md)
- [24 C.F.R. § 203.508 (2026) § 203.508   Providing information.](https://www.frixlaw.com/law-library/statutes/CFR_T24_P203_S203_508.md)
- [24 C.F.R. § 203.510 (2026) § 203.510   Release of personal liability.](https://www.frixlaw.com/law-library/statutes/CFR_T24_P203_S203_510.md)
- [24 C.F.R. § 203.512 (2026) § 203.512   Free assumability; exceptions.](https://www.frixlaw.com/law-library/statutes/CFR_T24_P203_S203_512.md)
- [24 C.F.R. § 203.550 (2026) § 203.550   Escrow accounts.](https://www.frixlaw.com/law-library/statutes/CFR_T24_P203_S203_550.md)
- [24 C.F.R. § 203.552 (2026) § 203.552   Fees and charges after endorsement.](https://www.frixlaw.com/law-library/statutes/CFR_T24_P203_S203_552.md)
- [24 C.F.R. § 203.554 (2026) § 203.554   Enforcement of late charges.](https://www.frixlaw.com/law-library/statutes/CFR_T24_P203_S203_554.md)
- [24 C.F.R. § 203.556 (2026) § 203.556   Return of partial payments.](https://www.frixlaw.com/law-library/statutes/CFR_T24_P203_S203_556.md)
- [24 C.F.R. § 203.558 (2026) § 203.558   Handling prepayments.](https://www.frixlaw.com/law-library/statutes/CFR_T24_P203_S203_558.md)
- [24 C.F.R. § 203.600 (2026) § 203.600   Mortgage collection action.](https://www.frixlaw.com/law-library/statutes/CFR_T24_P203_S203_600.md)
- [24 C.F.R. § 203.602 (2026) § 203.602   Delinquency notice to mortgagor.](https://www.frixlaw.com/law-library/statutes/CFR_T24_P203_S203_602.md)
- [24 C.F.R. § 203.604 (2026) § 203.604   Contact with the mortgagor.](https://www.frixlaw.com/law-library/statutes/CFR_T24_P203_S203_604.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/CFR_T24_P203_S203_501. Check the current official text before relying on it. Not legal advice.