Originating Mortgagee [HUD] Law and Legal Definition

Pursuant to 24 CFR 204.251 (g) [Title 24 Housing and Urban Development; Subtitle B Regulations Relating to Housing and Urban Development; Chapter II Office of Assistant Secretary for Housing Federal Housing Commissioner, Department of Housing and Urban Development; Subchapter B Mortgage and Loan Insurance Programs under National Housing Act and Other Authorities; Part 204 Coinsurance; Subpart B Contract Rights and Obligations], the term Originating Mortgagee means the original coinsured lender, or an assignee which has assumed responsibility for the original coinsured lender's liability under the coinsurance contract, with the approval of the Commissioner.”