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HUD/OH

RIN: 2502-AH89

Publication ID: Fall 2008

Title: Home Equity Conversion Mortgages (HECM): Cooperative Housing Developments (FR-4777)
Abstract: This rule would expand the Home Equity Conversion Mortgage (HECM) program to cover approved cooperative housing developments. The rule would implement an amendment to the National Housing Act that authorizes HUD to insure HECM mortgages in cooperative housing developments. The expansion of the HECM program, in the Department's view, would contribute to the effort to broaden reverse mortgage financing opportunities for elderly homeowners. It would also include forward mortgages within cooperatives as well.
Agency: Department of Housing and Urban Development(HUD)	Priority: Other Significant
RIN Status: Previously published in the Unified Agenda	Agenda Stage of Rulemaking: Proposed Rule Stage
Major: No	Unfunded Mandates: No
CFR Citation: 24 CFR 203    24 CFR 206
Legal Authority: 12 USC 1715b    12 USC 1715z to 1720    42 USC 3535(d)

Legal Deadline:  None

Timetable: Action Date FR Cite NPRM  06/00/2009

Regulatory Flexibility Analysis Required: No	Government Levels Affected: None
Small Entities Affected: No	Federalism: No
Included in the Regulatory Plan: No
RIN Data Printed in the FR: No
Agency Contact: Richard Bradley Office of Single Family Program Development Department of Housing and Urban Development Office of Housing Phone:202 402-2326