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| HUD/OH | RIN: 2502-AI50 | Publication ID: Fall 2008 |
| Title: Home Equity Conversion Mortgages--Loan Underwriting Standards and Mandatory Escrow Accounts (FR-5114) | |
| Abstract: This rule will establish underwriting standards for borrowers under the Home Equity Conversion Mortgage Insurance (HECM) program and provide mandatory escrow accounts for taxes and insurance for those borrowers not meeting established underwriting criteria. These new standards and requirements will be added to regulations that currently govern the HECM program and will be inserted by adding new section 206.38 to the current provisions of 24 CFR. | |
| Agency: Department of Housing and Urban Development(HUD) | Priority: Substantive, Nonsignificant |
| RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Completed Actions |
| Major: No | Unfunded Mandates: No |
| CFR Citation: 24 CFR 206 | |
| Legal Authority: 12 USC 1715z-20 42 USC 3535(d) | |
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Legal Deadline:
None |
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Timetable:
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| 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: Betsy Cromwell Housing Program Specialist Department of Housing and Urban Development Office of Housing Phone:202 402-4465 |
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