Warranty Company [HUD] Law and Legal Definition
Pursuant to 24 CFR 203.200 [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 203 Single Family Mortgage Insurance; Subpart A Eligibility Requirements and Underwriting Procedures; Insured Ten-Year Protection Plans (Plan)], the term Warranty Company means “an insurance company or other entity that provides insurance backing for an insured ten-year protection plan which, if the Plan issuer fails to meet its obligations to a covered homeowner, will assume the obligations and perform in accordance with the Plan's coverage contract with the homeowner.”
Legal Definition list
Related Legal Terms
- Accessible Route [HUD]
- Accident Potential Zone [HUD]
- Accompanying Relative [Immigration]
- Accompanying Spouse and Dependents
- Accompanying the Armed Forces outside the United States
- Accompanying the Federal Government Outside the United States
- Accompanying Visa
- Acquisition Loan [HUD]
- Actuarial Method [HUD]
- Affiliate and Associated Company
