24 CFR §203.493
Verified against eCFR.gov as of June 20, 2026View official text on eCFR.gov ↗
A sale of a beneficial interest in a group of insured loans, where the interest to be acquired is related to all of the loans as an entirety, rather than an interest in a specific loan, shall be made only pursuant to a declaration of trust, which has been approved by the Commissioner prior to any such sale.