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HUD/OH | RIN: 2502-AH89 | Publication ID: Spring 2009 |
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 |
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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: Joanne B. Kuczma Director, Home Mortgage Insurance Division Department of Housing and Urban Development Office of Housing 451 7th Street SW., Washington, DC 20410 Phone:202 708-2121 Email: joanne.b.kuczma@hud.gov |