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HUD/OH RIN: 2502-AI76 Publication ID: Spring 2011 
Title: HOPE for Homeowners Program; Statutory Transfer of Program Authority to HUD and Conforming Amendments To Adopt Recently Enacted Statutory Changes (FR-5340)  
Abstract: This rule implements the changes made to the HOPE for Homeowners program by the recently enacted Helping Families Save Their Homes Act of 2009. The HOPE for Homeowners program is a temporary program that offers homeowners and existing mortgage loan holders (or servicers acting on their behalf) insurance on the refinancing of loans for distressed mortgagors to support long term sustainable homeownership, including among other things, allowing homeowners to avoid foreclosure. The statute also transfers program responsibility for the HOPE for Homeowners program to the Secretary of HUD. Previously, the program was overseen by a board consisting of HUD, the Department of the Treasury, the Federal Deposit Insurance Corporation, and the Federal Reserve Board. The board will continue in an advisory capacity to the Secretary of HUD on the implementation of the program. HUD has also taken the opportunity afforded by this rule to address the two public comments received on the January 7, 2009, interim rule issued by the board. 
Agency: Department of Housing and Urban Development(HUD)  Priority: Economically Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: Yes  Unfunded Mandates: No 
CFR Citation: 24 CFR 257    24 CFR 4001   
Legal Authority: 12 USC 1701z-22    42 USC 3535(d)   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Interim Final Rule  01/12/2010  75 FR 1686   
Interim Final Rule Comment Period End  03/15/2010    
Final Action  08/00/2011    
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Stephanie Schader
Department of Housing and Urban Development
Office of Housing
451 7th Street, SW.,
Washington, DC 20410
Phone:202 402-3350