(a) Notwithstanding any other provision of this chapter, no adjusted premium charge shall be collected in connection with the payment in full, prior to maturity, of any mortgage insured under this chapter, if the mortgagor certifies to the Secretary that the loan was paid in full by or on behalf of a nonprofit educational institution which intends to use the property for educational purposes.
(b) The Secretary shall refund any adjusted premium charge collected subsequent to July 1, 1962, and prior to September 2, 1964, in connection with the payment in full, prior to maturity, of any mortgage insured under this chapter, if the mortgagor under such mortgage makes the certification prescribed by subsection (a).
Structure US Code
§ 1731b. Prohibition against transient housing
§ 1733. Application of other laws
§ 1734. Amendment, extension, or increase of commitment amounts
§ 1735. Payment of certain funds to Treasury
§ 1735a. Prepayment of mortgages by nonprofit educational institutions; refunds
§ 1735c. General Insurance Fund
§ 1735e. Acceptance of materials or products used in structures
§ 1735e–1. Use of American materials and products
§ 1735f. Water and sewerage facilities
§ 1735f–1. Waiver of deduction on assignment of property to Secretary in lieu of foreclosure
§ 1735f–2. Uniform rehabilitation standards for housing within and without urban renewal areas
§ 1735f–4. Minimum property standards
§ 1735f–6. Secondary mortgages held by State or local governmental agency on insured properties
§ 1735f–7. Exemption from State usury laws; applicability
§ 1735f–8. Time of payment of premium charges
§ 1735f–9. Limitation on commitments to insure loans and mortgages
§ 1735f–10. Change of mortgagee status
§ 1735f–11. Review of mortgagee performance and authority to terminate
§ 1735f–12. Assurance of adequate processing of applications for loan and mortgage insurance
§ 1735f–13. Prohibition of requirement of minimum principal loan amount
§ 1735f–15. Civil money penalties against multifamily mortgagors
§ 1735f–16. Annual audited financial statements
§ 1735f–17. Examinations and sanctions for certain violations
§ 1735f–18. Information regarding early defaults and foreclosures on insured mortgages
§ 1735f–20. Authorization of appropriations for General and Special Risk Insurance Funds