Barrington Manor Apartments Corp. v. United States

Cowen, Ohief Judge,

delivered the opinion of the court:

The parties’ cross-motions for summary judgment again bring before us plaintiff’s claim involving 24 C.F.B. § 207.253 (1966), a regulation of the Federal Housing Administration (FHA), now in the Department of Housing and Urban Development. The regulation imposes an “adjusted premium charge” of one percent of the original face amount of an FHA-insured mortgage if the mortgage is prepaid in full or the contract of insurance is voluntarily terminated after 5 years from the date of initial endorsement for insurance. The regulation also affords…