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| HUD/OH | RIN: 2502-AI65 | Publication ID: Spring 2009 |
| Title: Home Equity Conversion Mortgage (HECM) Program: Fixed Interest Rate HECMs (FR-5204) | |
| Abstract: This proposed rule would revise HUD's regulations involving fixed interest rate HEMCs. In light of the increasing number of fixed interest rate HECM's originated by FHA-approved mortgage lenders in recent years, these revisions are necessary in order to maintain the availability and the affordability of fixed interest rate HECMs in the mortgage market. This proposed rule would help FHA-approved mortgage lenders better manage the risk involved in fixed interest rate HECMs, while insuring that such lenders continue to be able to offer the widest possible range of mortgage products to borrowers who qualify for FHA insurance. | |
| 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 206.21 24 CFR 206.25 24 CFR 206.26 | |
| Legal Authority: 12 USC 1715b, 17152 to 1720 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 |
| Federalism: No | |
| Included in the Regulatory Plan: No | |
| RIN Data Printed in the FR: No | |
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Agency Contact: Margaret Burns Director, Office of Single Family Program Development Department of Housing and Urban Development Office of Housing 451 7th Street SW., Washington, DC 20410 Phone:202 708-2121 |
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