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HUD/OH

RIN: 2502-AI60

Publication ID: Fall 2008

Title: Mortgage Insurance for Cooperative Housing Developments (FR-5165)
Abstract: Changes to current section 203.43 and section 206 regulations will bring FHA's Cooperative Program closer to the conventional lending model by making co-op owners eligible for the Home Equity Conversion Mortgage Program (HECM) program. Additional regulatory modifications will help create a stable FHA-insured mortgage finance market for forward cooperative loans under section 203(n) of the National Housing Act. FHA's effort to help low and moderate income households obtain affordable homeownership has been focused on traditional single-family housing programs. With these changes, the FHA will be able to play a key role in helping many cooperative homebuyers secure financing for their first home.
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 203    24 CFR 206
Legal Authority: 12 USC 1709    12 USC 1710    12 USC 1715b    12 USC 1715u    12 USC 1752z to 1720    42 USC 3535(d)

Legal Deadline:  None

Timetable: Action Date FR Cite Withdrawn  08/29/2008

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